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History

20.07.1964: Established Oil Exploration Expedition and hydrocarbon exploration activities launched in Lithuania.

1966–1969: Šiūpariai, Plungė, South Šiūpariai and Vilkyčiai oil fields were discovered. The last two are considered to be among of the largest by estimated hydrocarbon resources in Lithuania.

1970–1982: Degliai, Vėžaičiai, Šilalė, Pociai, Ablinga, Sakučiai and Lauksargiai oil fields were identified during oil exploration activities.

1983: Two oil fields were found in the Silurian sequence – Kudirka and Lapgiriai.

1984: Genčiai oil - field that also is considered to be largest discovery, proves petroliferousity of new zone in Lithuania.

1988–1992: Kretinga, Nausodis and Girkaliai oil fields were found in the Cambrian sequence and North Bliūdžiai field discovered in the Silurian horizon.

1990: commercial oil production launched from Vilkyčiai, Genčiai and Kretinga fields for the first time in Lithuania. Until 1990 almost all those discoveries were explored and their reserves were approved by the State Resources Commission.

1991: Gargždai State Oil Geology Enterprise substitutes Oil Exploration Expedition.

1993: Government of the Republic of Lithuania makes a decision to establish a joint company for the hydrocarbon production from Genčiai oil-field. Limited Liability joint Lithuanian-Swedish Company named UAB Genčių nafta was established. Gargždai State Oil Production Enterprise holds 50 percent of the shares of the company.

1995: Gargždai State Oil Geology Enterprise was restructured into a public limited liability company Geonafta. UAB Minijos nafta, another joint company, was established by the decision of the Government of the Republic of Lithuania. AB Geonafta and Danish investors both hold 50 percent of share portfolio. The joint company receives licences to produce hydrocarbons from South Šiūpariai, Šiūpariai, Vilkyčiai, Degliai and Pociai oil fields.

2000: UAB Naftos gavyba, managed by Lithuanian and Polish investors, purchased a controlling interest of AB Geonafta in an open international tender. During the privatization period AB Geonafta had licenses for the oil production in Girkaliai, Kretinga and Nausodis fields, as well as for the hydrocarbon exploration in Plungė block.

2001: AB Geonafta purchased 50 percent of shares of the company UAB Manifoldas, possessing licences for oil production in Ablinga and Vėžaičiai discoveries, and thus finally secure its influence in all of the Lithuanian petroleum companies.

2004: AB Geonafta annual oil production peaked to 105.7 thousand m3 and was the largest during the company history.

2006: UAB Hermis Capital together with the associated companies purchased the controlling interest of the main shareholder of UAB Naftos gavyba; new Board of AB Geonafta was elected.

2009: the Share Purchase Agreement came into force on 6 January, according to which AB Geonafta purchased from AB SPE 50% of shares of UAB Genčių nafta. AB Geonafta became the sole shareholder of UAB Genčių nafta, owning 100% of shares.

2009: on 7 August, the reorganization of the company was completed by merging AB Naftos gavyba to AB Geonafta. AB Naftos gavyba ceased its business activities and was removed from the Register of Legal Entities of the Republic of Lithuania. AB Geonafta continues its activities and took over all the assets, rights and obligations of AB Naftos gavyba.

2011: On 3rd February UAB LOTOS Baltija bought 100% of shares belonging to UAB Meditus – one of the shareholders of the Company. UAB LOTOS Baltija is a subsidiary of the other shareholder of the Company, Polish company LOTOS Petrobaltic S.A. After this transaction AB Geonafta has become a fully owned subsidiary of LOTOS Petrobaltic S.A.

2011: on November 30 AB Geonafta restructured to AB LOTOS Geonafta. UAB LOTOS Baltija: and UAB Meditus incorporated into the company.

2012: on November 28 AB LOTOS Geonafta purchased 100 percent of shares of the company UAB Manifoldas.

During over 50 years period, AB LOTOS Geonafta