Serbia, NIS will continue to finance key development projects in all areas of business

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Ensuring stable operations and the realization of key projects through which 49.1 billion dinars will be invested are the goals of the business plan adopted by the Board of Directors of the Oil Industry of Serbia.

In the document published on the Belgrade Stock Exchange, it is stated that NIS foresees an ambitious investment program in the coming period, and in 2023, 49.1 billion dinars will be invested.

“NIS will thus continue to finance key development projects in all areas of business, and the most funds will be allocated to the segment of exploration and production of oil and gas,” said the company.

It is stated that NIS will continue to work on the development of oil and gas fields in Serbia, as well as its assets in the region.

Work will also be done on the development of the gas monetization project, as well as the development of the hydrogen production project.

“In the field of oil processing, the priority will be the continuation of the preparation of the third phase of the modernization of the Oil Refinery in Pancevo, i.e. activities on the upcoming project for the reconstruction of the catalytic cracking (FC) plant and the construction of a new plant for high-octane gasoline components – ETBE,” NIS points out.

That company will continue the modernization and development of the retail network.
“In Serbia alone, the construction and reconstruction of nine gas stations is planned during 2023. Also, the implementation of a strategic project for the reconstruction and modernization of petroleum product warehouses is planned,” states NIS.

In the field of energy, the focus will be on the further development of electricity production and trade. The implementation of projects in the field of renewable energy sources is also planned, and above all, the continuation of the construction of photovoltaic power plants at the company’s locations.

“For NIS, further synergy with HIP Petrohemija, implementation of projects to strengthen energy efficiency, as well as further digitization of the company at all levels remain a priority,” said the company.

It was announced that the focus of NIS will also be on projects to improve environmental protection and safety at work, RTV reports.