Tethys Expands Into Lithuania

摘要

Swedish independent Tethys Oil is paying $20 million to acquire stakes in production licenses in the Baltic republic of Lithuania, expanding its interests outside its core area of Oman. All licenses are onshore and cover some 4,000 sq km of the Baltic Sedimentary Basin. “The Lithuanian licenses strengthen a ‘second leg’ focused on Europe as a strategic complement to our Omani assets,” Tethys Managing Director Magnus Nordin said in a statement. “They give exposure to production, appraisal opportunities and exploration. All three licenses are within the geologically highly interesting Baltic Basin and are covered by attractive fiscal terms.”