Exploration and production activities in Lithuania

Exploration and production operations in Lithuania are carried out through a subsidiary, AB LOTOS Geonafta of Gargždai. The company is the parent of another group of companies, comprising:

  • UAB Genciu Nafta (100% owned by AB LOTOS Geonafta),
  • UAB Manifoldas (100% owned by AB LOTOS Geonafta),
  • UAB Minijos Nafta (50% owned by AB LOTOS Geonafta).

Competition for he upstream business

There is no active E&P market in Lithuania. The AB LOTOS Geonafta Group companies are the only entities engaged in production of oil from Lithuanian fields. The LOTOS Group owns 100% of the Lithuanian assets, except for UAB Minijos Nafta, where it owns 50% and the remaining investors are: Tethys Oil AB, Odin Energy A/S and private investors.

Key assets of the LOTOS Group (production volumes and licences)

The LOTOS Group’s average daily output in Lithuania in 2021 was 0.5 thousand boe/d (a decrease of 9.7% year on year), which accounted for 3% of the Group’s total production volumes.

Production operations were being conducted within the following onshore blocks: Girkaliai, Genciai, Kretinga, Nausodis, Klaipėda, and Gargždai.

As at the end of 2021, the LOTOS Group’s 2P hydrocarbon reserves in Lithuania totalled 2.3 million boe (100% of crude oil), representing 3% of the Group’s total 2P reserves.

Licences held by the AB LOTOS Geonafta Group As at December 31st 2021

As of December 31, 2021

LotosgrafikiENLitwa LotosgrafikiENLitwa

Sources: the Company

Crude oil from the Lithuanian fields is produced using onshore production infrastructure. Produced crude oil is transported by road to a marine terminal in Liepāja (Latvia), and then is taken to Gdańsk by a tanker ship, where it is fully processed by the LOTOS refinery. All associated natural gas is flared.

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