Vitol today confirmed that the board of its wholly owned subsidiary, Rosco SA, has reached agreement with the board of Arawak Energy Limited on the terms of a recommended and increased cash offer to be made by Rosco SA to acquire the entire issued and to be issued share capital of Arawak.

Arawak is a multi asset oil and gas production, development and exploration group, which has been active in the FSU since 1998 and has current operations in Kazakhstan, Russia and Azerbaijan.