Oil productionModern Lithuanian oil production began in the 1990s, following independence from Russia in 1991. Production peaked at 9,600 b/d in 2001, but has plateaued at around 2,000 b/d since 2009. All of Lithuania's oil fields are located within the Baltic basin, which covers the majority of the country. Cambrian sandstones have been the most explored reservoir horizon, with the majority of discoveries being found in this reservoir type between 1970 and 1990. Most oil discoveries ...
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Volatility in oil markets has led players in the upstream oil and gas industry to focus on reducing capital spend and operating costs. At the same time, governments need to review fiscal terms to maintain attractiveness and investment.
This country report gives an overview of the key upstream issues for this country. If you’re interested in identifying and assessing upstream investment and expansion opportunities, this upstream summary is your definitive commercial guide.
Potential investors, governments and companies in the oil and gas sector can use it to gain a better understanding of the critical issues for development opportunities in this country.
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Country report | Oct 2014
Lithuania upstream summary
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