Activity

Our aims:
 
• to ensure sustainable growth of the company results;
• to be a profitable company and to ensure benefit to the shareholders of the company and to the society;
• to be one step ahead when meeting partners’ and customers’ needs;
• to keep in touch with our business partners;
• to ensure safe and efficient use of natural resources;
• to be the best employer for our employees, the most wanted employer for the job-seekers and an example of professional activity to other companies.
 
Activity overview
 
The main activity of AB “Geonafta” is oil exploration, prospecting and production. The company takes the second position regarding oil production in Lithuania at the moment. In 2007, the company produced 48.5 thousand tons of oil that resulted in 63.2 million LTL revenues from the crude sale. The total “Geonafta” incomes from sales grew up to 135.8 million LTL in 2007 and were the biggest over the company history.  
 
AB “Geonafta” is the only Lithuanian company that owns a deep drilling rig and performs drilling activities for itself and other oil companies in Lithuania. The company also provides geological studies and oil production facilities maintenance and repair services. The scope of drilling and other services is constantly growing.
 
The company applies advanced technologies, employs modern equipment and materials in upstream operations, keeps in touch with the industry professionals and suppliers abroad, as well as cooperates with Lithuanian and foreign educational institutions.
 
The employees of AB “Geonafta” have a huge experience in other fields related to the use of Lithuania underground resources, such as possibility studies of geothermal energy usage, natural gas storages, etc. The company keeps on considering any opportunities to participate in such projects.