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Latvia

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Latvia

Project Summary

Odin Energi Latvija (Odin Energi) is looking to farmdown its 2018-1 licence in the Baltic Basin in Latvia following the 3D seismic shoot funded during 2019. Odin Energi is looking for a partner(s) to fund 2 exploration wells and repay back costs in return for a significant equity share in the licence.

The E-17 prospect is a drill-ready, low risk shallow water prospect in an area with a proven petroleum system. This opportunity represents a chance for early entry into an area with nearby producing field analogues in a basin with excellent reservoir and mature source rock.

The Odin Energi Group, have licences in Latvia, Lithuania and Oman and a successful farmee would have the opportunity to partner with the company to build a wider regional position and take advantage of their extensive geological and local business network.

An exploration well on the E-17 structure is expected to cost in the region of $16-20 MUSD and is in shallow water depth of less than 25m. Latvia has an excellent business environment (EU) and E&P licensing regime with excellent fiscal terms. The licence is about 10km from the shore where there is a significant regional infrastructure position which in the event of a successful discovery would facilitate rapid development with high value barrels.

Project Detail

Project Farmdown with significant equity share available
Country Latvia
Basin Baltic Basin (c.10km from the coast)
Seller Odin Energi Latvija
Contract Licence signed 9th January 2018
Current Phase Exploration - 3D seismic completed
Project Type Exploration
Hydrocarbon Type Oil
Dataroom Opening Early March 2020
Bid Deadline 15th May 2020
Latvia

Odin Energi Baltic Basin Licences

Project Documents

Client

For further information about this opportunity or to request a Confidentiality Agreement, please contact the Holt Energy Advisors Team via the form below.