Bratislava, October 31, 2019 - NAFTA entered the tender for the Vatazhkivska License through its Ukrainian NAFTA RV LCC subsidiary and with its successful bid at the electronic auction has acquired the license for the Vatazhkivska
field located not far from the city of Poltava, Ukraine.
NAFTA participated in the online auction, bidding for five licenses with a total area of more than 700 square kilometers. Official results
indicated that the company’s bid had been successful. After meeting all the conditions and taking further formal steps, NAFTA received
a license to exploreand subsequently produce hydrocarbons for 20 years. The company’s main objective is to take advantage of its many
years of experience to comprehensivelyreview the license’s potential and identify all reserves.
NAFTA has actively operated in Ukraine since 2016, when it acquired fifty percent of the license for exploring and producing hydrocarbons
in western Ukraine with CUB Energy Inc. NAFTA and its partner have since completed 3D seismic exploration in the area and in September 2019
started their first drilling in the Uzhhorod license.
NAFTA is an international company with extensive experience in natural gas storage and underground facility development in Slovakia, and is also Slovakia’s leader in exploration and production of hydrocarbons. The company is active in the countries of Central Europe, aside from Slovakia it also operates in the Czech Republic, Germany, Austria and Ukraine. NAFTA in several countries operates underground storage facilities with a total storage capacity of approximately 60 TWh, which makes NAFTA the 6th largest operator of natural gas storages in Europe, while exploring activities and participate in renewable energy storage projects.