Sunda, Finder Target Shared Rig for Timor-Leste Offshore Drilling

Sunda Energy has signed a letter of intent (LoI) with Finder Energy to collaborate on securing a drilling rig for planned offshore campaigns in Timor-Leste.

The agreement, signed between Sunda’s subsidiary SundaGas and Finder’s Timor-Leste unit, aims to combine drilling activities for the Chuditch-2 appraisal well and Finder’s Kuda Tasi and Jahal development wells into a single campaign.

Under the LoI, the companies will work together to contract a suitable rig, align procurement of materials and services, and coordinate planning and execution activities.

SundaGas operates the TL-SO-19-16 production sharing contract, which contains the Chuditch gas field, in partnership with state-owned TIMOR GAP, while Finder is developing the KTJ fields under a separate PSC, also with TIMOR GAP.

Finder is preparing to drill at least three wells as part of its KTJ development, with a final investment decision targeted by mid-2026.

The combined campaign is expected to improve project economics by extending rig utilisation to around 200 days, compared with an estimated 35 to 40 days for Sunda’s standalone well, making the project more attractive to drilling contractors.

The companies said a semi-submersible rig is being considered, suitable for Finder’s wells in around 400 meters of water depth and capable of operating