Sunda Energy PLC (AIM:SNDA) CEO Andy Butler talked with Proactive's Stephen Gunnion about the company's latest milestone—a memorandum of understanding (MOU) for the potential development of the Chuditch gas field, signed with the Timor-Leste Ministry of Petroleum and Mineral Resources. Butler emphasised the alignment with Timor-Leste's government and the strong collaboration with the regulator, ANP, which supports advancing the project quickly.
Butler shared that the Chuditch field, characterised by high-quality reservoirs and shallow water, is poised for development with a targeted production start in 2028. The MOU outlines feasibility studies, reservoir engineering, and facility requirements to enable efficient gas production and export. He added that the project's next phase involves conducting facility and pipeline studies by April next year.
Additionally, Butler highlighted a letter of intent for a drilling rig, marking significant progress toward appraisal well preparations for Q2 2025. He also discussed Sunda Energy's application for new licenses in the Philippines, with updates expected in early 2025.