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Sunda Energy and Finder Energy, through their respective subsidiaries, have signed a non-binding letter of intent (LoI) to jointly secure a drilling rig for their separate offshore projects in Timor-Leste.<\/p>\n
The subsidiaries, SundaGas Banda Unipessoal and Finder Timor-Leste, intend to conduct combined drilling operations, aiming to streamline the process and reduce costs by sharing resources such as drilling rigs and materials.<\/p>\n
Under the terms of the LoI, SundaGas and Finder plan to hire a suitable semi-submersible rig capable of operating at both companies\u2019 well locations. They also intend to collaborate on project management, procurement of necessary services, logistics and planning.<\/p>\n
Finder Timor-Leste is the operator of the Kuda Tasi and Jahal (KTJ) fields in partnership with Timor Gap.<\/p>\n
SundaGas Banda Unipessoal operates the TL-SO-19-16 production sharing contract (PSC), which includes the Chuditch gas field where the Chuditch-2 appraisal well is planned.<\/p>\n
Finder expects to begin drilling at least three wells as part of its KTJ development programme before making a final investment decision (FID) by mid-2026.<\/p>\n
The Chuditch-2 well, initially scheduled for the second quarter of 2026 (Q2 2026), will be rescheduled to align with Finder\u2019s campaign. Drilling is now expected to begin as early as possible in 2027, subject to rig availability.<\/p>\n
Both companies stated that rig-sharing addresses previous difficulties in securing a rig, particularly for shorter-duration projects like Chuditch-2, which alone requires around 35\u201340 days.<\/p>\n
Combining both companies\u2019 drilling campaigns extends operational duration to nearly 200 days, which the parties believe offers a more favourable proposition for contractors.<\/p>\n
Minor technical adjustments to the engineering design of the Chuditch-2 well will be undertaken to accommodate the shared rig concept.<\/p>\n
Sunda Energy and Finder have opened discussions on detailed project management and logistics. Finder is advancing efforts to secure the necessary type of semi-submersible rig for operations at both locations, which vary in water depth.<\/p>\n
SundaGas has asked upstream regulator Autoridade Nacional do Petr\u00f3leo (ANP) for a contract extension for the TL-SO-19-16 PSC, which currently expires on 18 June 2026.<\/p>\n
ANP is considering the request in light of the amended operational plans.<\/p>\n
Sunda Energy CEO Andy Butler said: \u201cI am delighted with the plans agreed with Finder to align our planned drilling activities with their KTJ development project. This collaborative initiative would create many potential synergies and help both parties effectively achieve their respective operational goals.<\/p>\n<\/p><\/div>\n
\u201cAlthough this plan pushes back drilling of Chuditch-2 further from our earlier schedule of Q2 2026, the sharing of a drilling rig, along with certain materials and services, would considerably enhance the achievability of the project.\u201d<\/p>\n
In late 2024, SundaGas Banda Unipessoal signed a non-binding LoI<\/a> with an international drilling contractor to secure a rig to drill the Chuditch appraisal well.<\/p>\n However, in June 2025, the plans were deferred due to the lack of certain essential logistical services in Timor-Leste at that time.<\/p>\n “Sunda Energy, Finder sign LoI to jointly secure Timor-Leste rig” was originally created and published by Offshore Technology<\/a>, a GlobalData owned brand.<\/p>\n \u00a0<\/p>\n
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