SIA Odin Energi Latvija is seeking to farm-out (likely negotiable) working interest in its offshore contract 2018/1. The acreage is marketed based on the presence of a shallow-water prospect (E17) that may contain reserve potential estimated to be approximately 78 MMbo. Interested companies should contact Tom Haselton at tom.odinenergi@gmail.com, tel.: +370 699 55 001.  The 32 sq km block 2018/1 covers most of the E17 prospect, located in the Latvian territorial waters adjacent to the border with Lithuania. In a geological sense, the area is located within the Baltic Syneclise (Liepaja-Saldus Ridge/Liepaja Depression).    Rightholding structure in the contract is Odin Energi Latvija (operator), Nostrum Oil & Gas CoÃ¶peratief U.A. and Geobaltic.  Background Information  The 2018/1 license was awarded on 9 January 2018 to Odin Energi Latvia as operator. The contract holds a 10-year exploration term and 20-year production period (overall duration of 30 years). Although little is known on the participation structure in the contract, is understood that the share of Odin and Nostrum in the license are comparable, with an insignificant working interest of Geobaltic and a 10% carried stake of Latvian Development Agency (LIDA).  The award of the 2018/1 contract closed an invitation to bid for the area - designation 1/2017 - issued by the Ministry of Economics of the Republic of Latvia on 23 August 2017.  In late July-early August 2019 Odin Energi Latvija acquired 2D seismic survey over the contract 2018/1. The project, conducted from by UAB Geobaltic, secured approximately 1,000 km of new seismic data.
SIA Odin Energi Latvija is seeking to farm-out (likely negotiable) working interest in its offshore contract 2018/1. The acreage is marketed based on the presence of a shallow-water prospect (E17) that may contain reserve potential estimated to be approximately 78 MMbo.