You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Serbia's NIS looks for oil, gas production opporunities in Bosnia - CEO

Author Radomir Ralev
Serbia's NIS looks for oil, gas production opporunities in Bosnia - CEO Source: NIS

BELGRADE (Serbia), March 8 (SeeNews) - Serbian oil and gas company NIS [BEL:NIIS] is exploring production opportunities in Bosnia and Herzegovina, the CEO of the company, Kirill Tyurdenev, said.

"We have found oil and gas in Romania and already started production. We are also looking for oil and gas in Bosnia and Herzegovina," Tyurdenev said earlier this week during a discussion panel of the Kopaonik Business Forum, according to a video file posted on the website of Serbian news agency Tanjug.

In December 2017, NIS said it adopted a business strategy under which it plans to make investments worth $2.2 billion (1.96 billion euro) by the end of 2025 in order to expand its business.

"According to this strategy, we have to invest 1.5 billion euro between 2019 and 2025," Tyurdenev said.

NIS, 56.15%-owned by Russia's Gazprom, is one of the largest vertically integrated oil and gas companies in Southeast Europe. Its main activities include the exploration, production and processing of oil and gas, as well as the production and retail trade with a wide range of petroleum products. Serbia's government owns a 29.87% stake in NIS.

($ = 0.890337 euro)

Compare