Thetys’ Oil Discovery Onshore Lithuania Hints At Renewed Onshore Interest in the Baltics

Following the announcements made by Baltic states toward a stronger cooperation in the energy sector, Sweden’s Thetys Oil said that the drilling of the Tidikas-1 exploration well on the Raseiniai licence onshore Lithuania has been successfully completed.  

“We are quite encouraged by the well results so far. There are now clear indications that an active petroleum system exists within the Raseiniai licence. We are looking forward to the results of the long term production tests from Tidikas-1 and the analysis of the cores from both Tidikas-1 and Bedugnis-1”, Magnus Nordin, Managing Director of Tethys Oil AB, commented in a note released on Wednesday.  

The discovery is likely to trigger a renewed focus on upstream activities in the region, both onshore and offshore. 

During the Day of Baltic Unity, the Latvian and Lithuanian governments discussed cooperation issues. Representatives of the two countries also discussed how to promote joint energy projects, as well as the creation of a Baltic regional gas market.

Meanwhile, on Thursday, Lithuania also reached a deal with Poland to build the gas interconnector GIPL.