Arawak Energy to invest USD 100mn in hydrocarbon exploration in Ukraine.

By bne IntelliNews February 27, 2013
In 2013, Arawak Energy company (Netherlands), which is a part of the Vitoil group, intends to invest USD 100mn in exploration of hydrocarbons in Ukraine, companys President Alastair McBain announced. He added that the company has 16 sites on more than 1,000 square kilometers in the Poltava region. In addition, the company is conducting 3D seismic exploration and modernizing drilling rigs. The Geo Alliance group of companies (Kyiv) and Arawak Energy Ukraine BV (The Netherlands) reached an agreement on joint ownership, management, and investment aimed at further development of oil and gas fields in Ukraine belonging to Geo Alliance in August 2012.

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