Sunda Energy subsidiary SundaGas Banda Unipessoal entered into a letter of intent with Finder Timor-Leste to collaborate on securing a drilling rig for offshore campaigns in Timor-Leste. The agreement aims to coordinate drilling activities for the Chuditch-2 appraisal well and the Kuda Tasi and Jahal fields.
Under the terms of the letter of intent, the two companies will seek to contract a technically suitable rig and align service contracts for their respective projects. The arrangement is scheduled to terminate on October 31, 2026 or upon the execution of a formal rig share agreement.
Finder Timor-Leste, a subsidiary of Finder Energy Holdings, plans to drill at least three wells at the Kuda Tasi and Jahal developments with a final investment decision slated for mid-2026. Because these fields are located in water depths of approximately 400 metres, the companies require a semi-submersible rig rather than a jack-up unit.
The Chuditch-2 well is situated in shallower waters of around 65 metres, but Sunda Energy noted that many semi-submersible units are capable of operating at such depths. Finding a rig for the standalone Chuditch-2 campaign proved difficult due to its short duration of 35 to 40 days.
A combined drilling campaign lasting nearly 200 days is expected to be a more attractive proposition for contractors, according to Sunda Energy. This collaboration is expected to provide the opportunity for significant operational synergies and savings, the company stated.
Sunda Energy indicated that drilling at Chuditch-2 is now planned to commence as early as possible in 2027 depending on rig availability.
This revised timeline has prompted SundaGas Banda Unipessoal to request an extension for its production sharing contract from the regulator, Autoridade Nacional do Petróleo. The current contract period is due to expire on June 18, 2026, and the regulator is presently considering the request, the company said.
Chief Executive Officer Andy Butler said, “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.”
Sunda Energy plans to begin work on minor engineering design amendments for the well shortly to accommodate the change in rig type.
