Serbian oil and gas company NIS said it would focus on boosting its
hydrocarbon resource base while improving the efficiency of hydrocarbon deposit
exploitation as part of a long-term development program.
In addition, the
company will continue the implementation of projects aimed at increasing the
efficiency of utilization of gas deposits and the development of projects in the
area of power generation, NIS said in a statement issued over the weekend after
its board approved the company's comprehensive development program through
2030.
In the development of oil processing operations, the main focus
will be on the implementation of the project to increase the depth of refining
at the company's Pancevo site, to optimize the production output process and to
improve energy efficiency.
The key tasks in the area of logistics and
sales will be to increase the volume of average sales at the company's filling
stations, as well as to continue with the modernization of the retail network,
NIS said.
NIS, majority-owned by Russia's Gazprom Neft, 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 of a wide range of petroleum
products.