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E & P News

2015

Sep 2015: Tethys (operator, 30%) announced the Tidikas-1 well on the Raseiniai license drilled an oil column of 50m in 2 formations. It is the second well drilled on the license in 2015 with the first, Bedugnis-1, recording oil shows. Tidikas-1 will be put on a long-term production test.

Apr 2015: Gripen Oil & Gas has submitted an application for 4 offshore licences in the Baltic Sea in water depths up to 120m. Only 2 wells have been drilled in the area, both in the 1980s.

2014

Oct 2014: Lithuania has received its first ever cargo of LNG at the Klaipeda port. The Golar Seal LNG tanker delivered a cargo from Statoil’s Hammerfest terminal in Norway after earlier unloading a third of its load at the Dutch Gate import terminal.

Aug 2014: Lithuania signed a deal with Statoil to receive natural gas at a new LNG terminal at Klaipeda from 2015. Statoil will supply 0.54 bcm of gas each year as LNG. Gazprom is currently the country’s only gas supplier.

Jul 2014: Chevron has pulled out of the country and closed its office in Vilnius, divesting its 50 % equity in LL Investicijos. Consequently Tethys Oil has  increased its interest in the Rietavas licence, owned by LL Investicijos, to 30% from 14%. The government plans to hold another tender to explore for unconventional hydrocarbons although no timetable has been set.

2013

Oct 2013: Chevron has pulled out after winning a tender to explore for shale gas in the 1,800 sq km Silute-Taurage prospect. Chevron blame changes to the fiscal, legislative and regulatory climate since the company submitted its bid in Jan 2013. Chevron will focus on exploration of conventional hydrocarbons at its Rietavas block.

Sep 2013: Chevron has won a tender to explore for shale gas in western Lithuania, the only bidder to explore for unconventional hydrocarbons in the 1,800 sq km Silute-Taurage Prospect. The country currently gets all its gas from Russia, consuming 3.3 bcm in 2012. Chevron will be required to invest at least US$30 mm in exchange for a 7-year permit.

Jul 2013: Tethys reports that the Lapgiriai-1 well on the onshore Raiseiniai licence has tested small amounts of oil in Silurian limestones. The Company is now drilling the Silale-2 well on the Rietavas licence to appraise the Silale oil field which was discovered in the 1980s by the Silale-1 well.

Apr 2013: Tethys Oil announced that drilling of the Lapgiriai-1 well on the Raiseiniai licence onshore Lithuania has started. The target is a Silurian reef reservoir that encountered oil in an adjacent Soviet well drilled in the 1980’s. Tethys has a 26% interest in the licence through its shareholding in Jylland Olie.

Jan 2013: Chevron was the sole applicant to explore for unconventional hydrocarbons in the 1,800 sq km  Silute-Taurage area, with 7 years to locate unconventional resources and 10 years to explore for conventional resources. The company has to invest at least US$31 mm in exploration under the permit's terms. Last October it bought 50% of Lithuania-registered oil company LL Investicijos.

2012

Oct 2012: Chevron plans to look for shale gas  after buying a stake in a local oil company, LL Investicijos, which holds a licence to prospect for oil and gas in the 2,400 sq km Rietavas area. Gazprom is the sole gas supplier to Lithuania. The government called a tender in June for shale gas exploration in a move to cut its energy dependence. The country consumed 3.4 bcm of gas in 2011, all of which was imported from Russia.

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