According to the Center of Registers, the branch was registered last Friday and is headed by Albinas Žvirblis, former CEO of the local oil exploration and production company Manifoldas. The branch's main office is located in Dirvupiai, in the district of Klaipėda.
Diament started drilling the first exploration well in Syderiai, in the northwestern district of Telšiai, in late September as part of surveys planned to be completed by next May and aimed at finding out if natural gas can be stored in this location at a depth of 1.5 kilometers.
Diament is carrying out the drilling and part of the surveying work together with Minijos Nafta, one of Lithuania's biggest oil production companies, and LL Investicijos, which is 50 percent owned by US-based Chevron Global Energy.
Earlier this year, Minijos Nafta hired Poland's Poszukiwania Naftowe Diament to drill its first shale gas exploration well in the district of Šilutė, in western Lithuania.
Diament offers oil and natural gas prospecting services in Poland and abroad.