Vitol Announces Agreement To Develop Oil And Gas Fields In Ukraine With Eastone

abarrelfullabarrelfull wrote on 29 Aug 2012 13:09
Tags: eastone europe ukraine upstream vitol

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The Vitol Group (“Vitol”) is pleased to announce the signature of agreements under which Arawak Energy Ukraine BV, a subsidiary of Vitol, and Geo Alliance, a company under EastOne’s mandate, have become partners in Ukraine.

The partnership will jointly own, manage and invest in the further development of the oil and gas fields in Ukraine owned by Geo-Alliance Oil-Gas Public Limited (the “Company”) and its subsidiaries.

The Company is one of the leading independent oil and gas producers in Ukraine. The Company’s assets comprise 16 permit areas covering 16 fields, of which 15 are situated in the Dnipro-Donets basin. The combined licence area is approximately 1,092 km2.

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