Finder Energy Holdings (ASX:FDR) said East Timor's Autoridade Nacional do Petroleo approved the environmental impact statement (EIS) for the Kuda Tasi and Jahal Development (KTJ Project), securing the principal environmental approval required to progress the project, according to a Monday filing with the Australian bourse.
The EIS, together with the previously approved field development plan, establishes the key regulatory framework for development, construction, operations, and eventual decommissioning, per the filing.
The approval comes after extensive environmental assessments and consultations with regulators, government stakeholders, local communities and the public, the filing said.
The company said it will continue advancing joint venture processes, project agreements and debt financing as it progresses the KTJ Project towards final investment decision.
