Foundation of the state-run company VEB Erdöl-
und Erdgaserkundung Mittenwalde
Its main activities were in oil and gas exploration
and production
1967
Conversion to the state-run
VEB Erdöl-Erdgas Mittenwalde
1973
Conversion of the state-run VEB Erdöl-Erdgas
Mittenwalde to the company VEB Untergrundspeicher Mittenwalde
Its new activities were in the underground
storage of gas, oil and petrochemical products
Continuation of oil and gas production
1984
The VEB UGS Mittenwalde
company became the leading company within the
state-run industrial group Kombinat Gasanlagen.
Construction of gas pipelines and infrastructure
facilities in the Ukraine and in the Ural Mountains
(Russia)
1990
Disincorporation
of the private company Untergrundspeicher- und
Geotechnologie-Systeme GmbH (UGS) from the state-run
VEB UGS. Focussed on core activities in underground
storage.
1991
Privatisation
finalised.
1999
Purchased by
the French company, Géostock, of 60 % of
UGS shares
