NIS to invest more than RSD 28 billion in 2017 – Increase of oil and gas reserves planned

The value of the investments of Naftna Industrija Srbije (NIS) planned for 2017 has been estimated at more than RSD 28 billion, which is on the 2016 level, stated Kirill Kravchenko, CEO of NIS.

In his interview for the New Year’s issue of Politika, Kravchenko says that investments will continue in 2018 and 2019, with NIS planning to invest around RSD 80 billion more. He says that the most important thing is for NIS to continue realizing key projects, one of which is deep processing in Rafinerija Nafte Pancevo.

– A total of EUR 300 million will be invested in the project in the next two or three years, and it is expected to start operating in 2019 – Kravchenko says.

He adds that more than 50 gas stations will be raised and reconstructed in Serbia and the region in the next three years.

– We are planning an increase in oil and gas reserves in the next three years at the rate of around 3% a year on average – stated CEO of NIS.

When asked about the amount of NIS’ loan debts, Kravchenko says that the total debt at the end of November 2016 amounted to around USD 670 million and adds that this is a favorable state of things.

CEO of NIS also says that the company still contributes nearly 15% of the budget of Serbia, and that it is expected that the effects of measures towards increasing efficiency in NIS will exceed RSD 8.5 billion at the end of 2016.

NIS a.d. Novi Sad

NIS a.d. Petrol Rafinerija nafte Pančevo

Naftna Industrija Srbije

NIS

Kirill Kravchenko

Rafinerija Nafte Pancevo

NIS investments

NIS investments in 2017

oil and gas reserves

budget of Serbia