Highlights

  • Finder Energy Shares rose 4.59% on 16 February 2026, following FEED completion update.
  • FEED for Subsea Production System and wells completed on schedule.
  • Project transitions toward procurement, financing and approval processes.
  • Engineering scope delivered on time and within planned budget.
  • Subsea design aims to optimise production and enhance field uptime.
  • Share price has also increased 533.33% over six months and 1040% annually.

Finder Energy Holdings Limited (ASX:FDR) shares jumped by 4.59% to AUD 0.57 on 16 February 2026 after the Company announced completion of Front-End Engineering Design (FEED) for the Subsea Production System (SPS) and production wells at the Kuda Tasi and Jahal Development Project (KTJ Project).

The latest movement adds to a notable price trajectory, with the share price rising 533.33% over the past six months and 1040% over the past year, reflecting sustained investor focus as the project advances through key development stages.

Engineering Phase Completed on Schedule

Finder confirmed that FEED for the SPS and production wells has been finalised in line with the project’s accelerated development timeline. The work was delivered through an integrated project team involving Finder and the Subsea Integration Alliance, comprising Subsea7, SLB and OneSubsea.

With this phase complete, the KTJ Project moves from development definition into procurement, financing and regulatory approval activities required ahead of Final Investment Decision (FID), which remains targeted for mid-year.

Integrated Design Across Reservoir and Wells

The FEED scope covered subsurface planning, well engineering, subsea architecture and facilities integration for the final development concept. A detailed reservoir model was constructed to support production forecasting and flow assurance, incorporating updated mapping, reservoir engineering and geomechanical analysis.

On the drilling front, well construction design has been completed, including a drill centre arrangement for two Kuda Tasi wells aimed at reducing drilling time and simplifying subsea layout. Production well completions were engineered to enhance operational flexibility and reservoir performance.

Subsea and Field Execution Planning Remains in Focus

The engineered SPS design incorporates subsea production Christmas trees across three wells and subsea ESP skids at each field. Produced fluids are planned to be transported to the FPSO via flexible flowlines and risers, with the FPSO providing power and control through flexible umbilicals.

Field construction planning has also been defined, including vessel logistics, transport strategy, commissioning and testing protocols, and integration with the Petrojarl I FPSO. Finder has begun managing procurement of long-lead equipment as part of its accelerated timetable while parallel engineering and life extension work progresses on the FPSO.

With project definition complete and equipment lists identified, Finder continues advancing commercial, financing and approval workstreams ahead of the targeted FID milestone.

FAQs

  1. Why did Finder Energy (ASX:FDR) shares rise on 16 February 2026?

Shares increased 4.59% after the Company announced completion of Front-End Engineering Design (FEED) for the Subsea Production System and production wells at the KTJ Project.

  1. What does completion of FEED mean for the KTJ Project?

With FEED finalised, the project transitions from development planning into procurement, financing activities and regulatory approvals ahead of a targeted mid-year Final Investment Decision (FID).

  1. What are the next major milestones for the project?

Finder is progressing procurement of long-lead equipment, advancing FPSO-related engineering work, and continuing commercial and financing workstreams as it moves toward FID.