Australian operator Finder Energy is evaluating several Chinese offshore contractors for a comprehensive life extension and upgrade of the 40-year-old FPSO Petrojarl 1, as it advances the Kuda Tasi and Jahal (KTJ) project in Timor-Leste toward a final investment decision (FID). The company has approached Cosco Shipping Heavy Industry, CIMC Raffles, Huarun Dadong Dockyard (HRDD), and possibly China Merchants Heavy Industry’s Shenzhen facility for the upgrading contract.

Scope and Timeline of the Overhaul

The revamp will involve a full overhaul including refurbishment, life extension, and equipment upgrades across the hull, topsides, piping, electrical systems, mooring, and turret. The FPSO is required to start a new 10-year field life for the KTJ project. A request for price quotation may be issued within the next week or two. The vessel must enter the yard in January or February 2027 and depart by October 2027 at the latest, with 70% of work performed at the quayside and 30% in drydock. The Petrojarl 1 is currently laid up in Granadilla, Tenerife, Spain, after relocation from Las Palmas.

Vessel History and Acquisition

The Petrojarl 1 has an iconic status due to numerous redeployments over its lifetime, first entering service in 1986 on the Oseberg field offshore Norway, followed by nine assignments in the North Sea and its most recent deployment offshore Brazil on the Atlanta field. Finder acquired the vessel in late 2025 for US$15 million from Amplus Energy, which had purchased it from Altera Infrastructure. Amplus will provide operations and maintenance during the production phase. The 209.2-meter-long, 32-meter-wide FPSO is earmarked for a decade of production offshore Timor-Leste, pending project sanction.

Project Compatibility and Engineering Validation

Finder describes the FPSO as highly compatible with the KTJ project, featuring a production capacity of 25,000 to 30,000 barrels per day of oil, representing a cost-effective, fit-for-purpose solution. Phase one studies by Amplus and specialist contractors validated the Petrojarl 1 as technically robust with no material limitations identified for redeployment to Timor-Leste. However, sources did not rule out the option of retrofitting the vessel in Spain, depending on economics, yard space availability, budget, and local supply chain issues.

Contractor Requirements and Project Timeline

Finder requires yards to demonstrate proven experience with DNV-classed FPSO life extension projects, in-house or partnered engineering design capability, laser scanning proficiency, and efficient steel replacement rates with a clean record of class surveys. The detailed shipyard scope for the life-extension and modification works is being prepared. Finder aims to take FID by mid-2026, with first oil targeted for late 2027 or early 2028. Finder operates Block PSC 19-11 with a 66% interest, while Timor GAP holds the remaining 34%.