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E & P News

2015

Aug 2015: Latvia has shown interest in buying gas from LIthuania’s LNG terminal in Klaipeda. However, price and long-term gas supply deals with Gazprom would be issues to resolve.

2013

Jun 2013: Balin Energy has completed drilling its first well in the Northern Block of Latvia with the semi-submersible rig Ocean Nomad but failed to find hydrocarbons.

Feb 2013: Balin Energy, a joint venture co-owned by PKN ORLEN and Kuwait Energy, will drill its first well in the Northern Block of Latvia's economic zone using a semisub. This is the first offshore well in the Baltic Sea since the break up of the Soviet Union. Balin (90%) holds 2 licences (No. 1/2004 and No. 1/2009) totalling 1,664 sq kms. The other 10% is held by the Latvian government.

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