Bratislava, 1 January 2019 NAFTA a.s. (NAFTA) through its subsidiary NAFTA Bavaria GmbH has completed acquisition of underground gas storage facilities Inzenham - West, Wolfersberg and Breitbrunn/Eggstätt in the German state of Bavaria from DEA Deutsche Erdoel AG and Storengy Deutschland GmbH.
At the beginning of March 2018 NAFTA signed a Share and Purchase Agreement with DEA Deutsche Erdoel AG for acquisition of Bavarian underground storage facilities Inzenham-West, Wolfersberg and Breitbrunn/Eggstätt. The transaction was completed on 31 December 2018 after receiving all necessary regulatory approvals. As part of the transaction NAFTA has also acquired ownership of 19.7% participation interest in Breitbrunn/Eggstätt from Storengy Deutschland GmbH and became 100% owner of Inzenham - West, Wolfersberg and Breitbrunn/Eggstätt underground storage facilities, with a storage capacity of 1.8 billion cubic meters.
NAFTA is constantly looking for international cooperation in underground gas storage and the exploration and production of hydrocarbons. "For a long time we have been giving attention to development projects that would let us effectively utilize our extensive skills and know-how obtained from our many years of experience. It is our great pleasure to have achieved such a significant milestone in international cooperation through precise activities. The acquisition of underground storage facilities in Bavaria is seen as an important strategic investment and a successful step toward expanding our underground gas storage activities into Germany’s market.” said NAFTA CEO Martin Bartošovič, adding that NAFTA is planning to further develop successful and well-established standards in both operations and employee development in Germany.