Finder Energy moves closer to first oil in Timor-Leste with reprocessed Kuda Tasi and Jahal seismic data

Finder Energy (ASX: FDR) has achieved another key milestone in the lead-up to producing first oil at its new offshore Timor-Leste projects.

The company is now using reprocessed data from an historical Ikan 3D seismic survey to help finalise its development drilling plans for the Kuda Tasi and Jahal oil fields.

The company said that the Ikan 3D reprocessing project had delivered high-quality data including significant improvements in imaging within the targeted reservoir pay interval.

Offshore acquisition

Finder acquired Kuda Tasi and Jahal in August 2024 as part of its 76% purchase of four discovered but undeveloped oil fields in the Timor Sea off the south-east coast of Timor-Leste.

The previous owners originally acquired the Ikan 3D seismic survey in 2005 but had not conducted any reprocessing since 2012, with data over Kuda Tasi last reprocessed in 2008.

Technical director Shane Westlake said the reprocessed data has a far superior signal-to-noise ratio, at the same time resolving previous imaging challenges beneath the complex shallow faulting to render them well-imaged and accurately positioned.

Improved mapping

Finder is focusing its initial interpretation of the new data on improved mapping of the Kuda Tasi and Jahal fields to confirm the best position for development wells to optimise production.

Mr Westlake said the new data would also facilitate a number of other project milestones on the critical path to first oil including preparation of the Kuda Tasi and Jahal development plans, as well as independent resource certification, production and economic modelling.

The company will also use the new data to re-evaluate the resource potential of the nearby Krill and Squilla discovered oil fields and various other exploration targets, which have a combined potential of 116 million barrels.