29 August 2012

Vitol Announces Agreement to Develop Oil & Gas Fields in Ukraine with EastOne

29 August 2012 - 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. 

EastOne Group is an international investment advisory group that provides strategic and investment management services to a diversified portfolio of assets across multiple geographies and industry sectors. The group was established in 2007 by Victor Pinchuk. EastOne provides services to a portfolio of over twenty companies and large scale projects. EastOne is headquartered in London, with offices in Kiev and Dnipropetrovsk, Ukraine

Source: Vitol