Sunda Energy plc has signed has a letter of intent with Finder Timor-Leste B.V. to work together to secure a drilling rig for their respective operations offshore Timor-Leste.
SCHEDULE
Sunda is preparing to drill an appraisal well in the Chuditch gas field in 2027, later than the planned Q2 2026, while Finder proposes to drill in the Kuda Tasi and Jahal (KTJ) fields.
Each company has a joint venture with Timor Gap Chuditch Unipessoal Lda.
Chuditch-2 lies some 65 metres deep, while the KTJ wells will be drilled in depths of 400m.
“Securing a rig to drill Chuditch-2 has proved challenging, largely due to the expected short duration (35 to 40 days) of the campaign, with no immediate follow-up work for the rig,” said Sunda.
“The opportunity to share a rig with Finder, which plans to drill three development wells on KTJ, means a combined duration of operations of almost 200 days, making it a far more attractive proposition for contractors.
“Minor amendments to the well engineering design for Chuditch-2 will be required with a different rig type, and this work will commence shortly.”
The LoI also covers aligning contracts for materials and services, project management and providing support and information.
The agreement ends on the earlier date of either a formal rig share agreement or 31 October 2026, and can be extended by mutual agreement.
Sunda has additionally applied to extend the production sharing contract for Chuditch, which expires on 18 June 2026.
Chief executive officer Dr Andy Butler added: “Although 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.”