Skip to main content
  1. Home
  2. Exploration
  3. 07 Jul 14
  4. Tethys increases interest in licence onshore Lithuania

Tethys increases interest in licence onshore Lithuania

Oilfield Technology,

Tethys Oil has increased its interest in the Rietavas licence onshore Lithuania from 14% to 30%. Joint venture partner Chevron has elected to leave the licence.

The work programme, which focused on evaluation of the licence area for conventional and unconventional hydrocarbon potential, will continue as planned. The programme is fully funded from available funds within the joint venture company LL Investicos.

Additionally, following adjustments among shareholders, Tethys’ interest in the Raiseiniai licence onshore Lithuania has increased from 26% to 30%.

Tethys Oil has indirect interests in three onshore Lithuanian licences: the Gargzdai licence (25%), the Raiseiniai licence (30%) and the Rietavas license (30%).


Adapted from press release by Katie Woodward

Read the article online at: https://www.oilfieldtechnology.com/exploration/07072014/tethys_oil_increases_interest_in_lithuanian_onshore_licence_212/

You might also like

Woodside strengthens its Australian operations

Woodside has agreed to assume operatorship of the Bass Strait assets, unlocking potential development of additional gas resources, following an historic agreement with ExxonMobil Australia (ExxonMobil).

 
 

Embed article link: (copy the HTML code below):

 

This article has been tagged under the following:

Oil & gas news