According to data from the Centre of Registers, the authorized share capital of Chevron Exploration & Production Lietuva is being increased by 863,200 litas, from 50,000 litas to 913,000 litas, through additional contributions. The capital increase decision has been taken by Dutch-based Chevron Lithuania Holdings B.V, the Lithuanian company's shareholder.
Chevron Global Energy has recently bought a 50 percent stake in LL Investicijos, a local company that has an oil field in Western Lithuania. The value of the transaction is not disclosed, but it is thought that it could be close to that of Chevron's deal in Bulgaria, where it paid 30 million US dollars for an oil field of a similar size.
Experts estimate that Chevron may invest more than 500 million litas in shale gas prospecting in the Rietavas oil field in western Lithuania.
