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Arawak Energy Ukraine BV, a subsidiary of the Vitol Group, and Geo Alliance, a company under EastOne’s mandate, have become partners in Ukraine to develop oil and gas fields, Vitol announced.
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 Ltd. and its subsidiaries. The company’s assets comprise 16 permit areas covering 16 fields, of which 15 are situated in the Dnipro-Donets basin. The combined license area is approximately 1,092 sq km (422 sq miles).