Geo Alliance Group Limited, owned by companies controlled by Ukrainian businessman Viktor Pinchuk, has completed the purchase of a 50% stake in Geo-Alliance Oil-Gas Public Limited from Arawak Energy Ukraine B.V., a subsidiary of international trader Vitol. This was reported by Geo Alliance.
As a result of the transaction, Victor Pinchuk (through Geo Alliance Group) became the owner of 100% of the shares of Geo-Alliance Oil-Gas Public Limited.
The amount of the transaction was not disclosed, the details of the transaction are limited by the confidentiality agreement.
“We are grateful for the strong working relationship that we have had with our Ukrainian partner over the past nine years. We wish Geo Alliance Group every success in the future, ”said Vitol Group spokesman Jonathan Marsh.
“For 9 years our partnership with Vitol has been effective and constructive. We are grateful to the partner for the support and contribution to the development of Geo Alliance Group, ”said Mikhail Belostoksky, a representative of Geo Alliance.
Geo-Alliance Oil-Gas Public Limited is a holding company of a group of companies operating in the oil and gas sector of Ukraine since 2004. It is one of the leading private companies in the production of gas and gas condensate, as well as a producer of liquefied petroleum gas (LPG) in Ukraine.
Production of natural gas by Geo-Alliance in 2020 amounted to 203 million cubic meters, gas condensate - 28.8 thousand tons.