LOTOS has been awarded Kretingos exploration & production (E&P) licence in the Baltic Basin. The new award was ratified on 7 March 2018 and covers 158 sq km located between Kretinga and Genciai fields to the W and Nausodis Field to the E, which are all operated by LOTOS, and produce from a Cambrian reservoir. LOTOS has a stake in nine Lithuanian Baltic Basin blocks (seven operated), with average net production of 968 boe/d during 2017, whilst year-end reserves were 3.6 MMbo. AB LOTOS Geonafta is sole licensee for Kretingos.
Lotos has been awarded Kretingos licence