Wise Broker - BELEX Morning Note, Market News - Oct 14, 2011

BELEX Morning Note - 14 October 2011

Market news

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NIIS: NIS and Romanian Government Discussed Plans for Future Business Development

Group of representatives from NIS led by Kirill Kravchenko company CEO and Romanian
Prime Minister Emil Boc has had a meeting at which the company presented its development plans in Romania foreseeing investments in the oil sector amounting to a few hundred million EUR by 2015 as well as the opening of about 500 jobs.

The Head of the Romanian Government has stated that foreign investors, such as NIS, which is a member of Gazprom group are welcome in Romania, and also expressed his support for job-generating projects.

Source: NIS

NIIS: Start of oil and gas prospecting in the Republic of Srpska

The company Jadran-Naftagas d.o.o. Banja Luka starts the geologic prospecting at the territory of the Republic of Srpska, based on the concession for exploration and exploitation of hydrocarbons (crue oil and gas), awarded to Jadran-Naftagas by the Government of the Republic of Srpska. Seismic prospecting will be conducted at the territory of 210 km.

Investment program until 2014, foresees investments into prospecting of oil and gas at the territory of the Republic of Srpska in the amount of USD 41 million. This year EUR 4.05 million will be invested into exploration project.

Source: NIS


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