Finder Energy announces that completion has occurred under the sale and purchase agreements announced earlier this month and Finder now owns a 76% interest in PSC 19-11, offshore Timor-Leste.

Damon Neaves, Managing Director, said: 
“This acquisition transforms Finder into a developer with 34 million barrels (net) of discovered oil and an exciting period of rapid development activity and value catalysts ahead of us.

Our highest priority will be to fast-track the development of the Kuda Tasi and Jahal Oil Fields and we have laid out a clear path to FID and First Oil. We have mobilised resources on those objectives so that we hit the ground running.

The Government of Timor-Leste and the regulator, ANP, together with our joint venture partner, TIMOR GAP, have demonstrated strong support for Finder and our development strategy. It is a privilege for Finder to be part of the future of the energy industry in Timor-Leste and we are excited to get the work program underway.”

KeyFacts Energy: Finder Energy Timor-Leste country profile