Finder Energy Holdings Limited (ASX:FDR) announced on 28 September 2026 that the Autoridade Nacional do Petróleo (ANP) has approved the Environmental Impact Statement (EIS) for the Kuda Tasi and Jahal Development (KTJ Project). The approval represents a key regulatory milestone for the project and, together with the previously approved Field Development Plan (FDP), establishes the principal regulatory foundations required as the KTJ Project progresses towards Final Investment Decision (FID).

The EIS approval provides the environmental framework governing the development, construction, installation, operations and eventual decommissioning phases of the KTJ Project. Finder stated that the milestone further reduces regulatory uncertainty and supports continued progress with joint venture processes, project agreements and Debt Financing activities.

KTJ Project Secures Key Environmental Approval Milestone

The approval of the Environmental Impact Statement by ANP represents a significant step in Finder Energy’s development pathway for the KTJ Project.

The EIS was prepared through a detailed assessment process led by specialist environmental consultancy MCC Sustainable Futures in Partnership with Timor-Leste advisory group Halona Serena. The process involved consultation with ANP, government and regulatory stakeholders, local communities and the broader public.

Finder stated that the collaborative consultation process provides an important foundation for ongoing social licence in Timor-Leste and establishes the environmental management requirements that will apply throughout the project lifecycle.

ANP recognised the collaboration between Finder and its joint venture partners during the EIS review and public consultation process. The regulator noted that the approval allows the KTJ Development Project to progress towards the next stages of development.

Regulatory Foundations Strengthened Ahead of Final Investment Decision

With both the Environmental Impact Statement and Field Development Plan approved, Finder has established key regulatory approvals required for advancing the KTJ Project.

The company stated that it continues working with its joint venture partner and other Stakeholders to complete remaining commercial and financial activities required to achieve Final Investment Decision.

The approval framework now covers environmental considerations across the full project lifecycle, including development activities, construction, installation, operations, monitoring requirements and eventual decommissioning.

The next phase of the project is expected to involve continued advancement of joint venture processes, project agreements and financing arrangements as Finder works towards development readiness.

KTJ Project Progresses Through Development Preparation Phase

The Kuda Tasi and Jahal Development is focused on advancing offshore oil development opportunities in Timor-Leste.

Finder’s latest update highlights the progression of the project from regulatory approval stages towards future development planning. The approval of the EIS provides a defined environmental framework, while the approved Field Development Plan provides the broader development structure for the project.

Finder CEO Damon Neaves stated that the EIS approval represents another step in reducing project risk and that the company remains focused on completing commercial and financial activities required to reach FID.

The company’s continued progress will depend on advancing remaining development requirements, including joint venture coordination, financing arrangements and project execution planning.

Stakeholder Engagement Forms Part of Project Development Approach

The EIS approval followed an extensive stakeholder engagement process involving regulatory bodies, government representatives, communities and members of the public.

Finder highlighted the importance of consultation activities in developing the environmental framework for KTJ. A town hall meeting held in Dili on 2 June 2026 formed part of the public consultation process associated with the EIS review.

The company’s engagement approach is intended to support alignment between project development activities and environmental management expectations in Timor-Leste.

Risks and Uncertainty Factors

While the EIS approval represents a key regulatory milestone, the KTJ Project remains subject to further development, commercial and financing requirements.

Finder continues to progress joint venture processes, project agreements and debt financing activities before reaching Final Investment Decision. Completion of these steps will be important for determining the future development pathway of the project.

Development projects in the oil and gas sector may also face risks associated with project execution, financing availability, regulatory requirements, operational performance and market conditions.

The company’s forward-looking plans remain subject to assumptions and uncertainties, meaning actual outcomes may differ depending on future developments.

What to Watch Ahead

Investors may continue monitoring Finder Energy’s progress as the KTJ Project moves towards the next development stages.

Key areas of focus include:

  • Progress towards Final Investment Decision.
  • Completion of remaining commercial and financing activities.
  • Joint venture discussions and project agreements.
  • Further development planning following EIS and FDP approvals.
  • Regulatory and stakeholder engagement updates.

Finder Energy’s latest announcement marks an important regulatory milestone for the KTJ Project, with environmental approval now secured alongside the approved Field Development Plan. The company continues focusing on advancing the project through the remaining commercial and financial stages required for potential development.