The Oil Industry of Serbia plans to invest 210 million euros in 2022

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The Board of Directors of NIS has adopted the Business Plan for 2022, which plans investments of 210 million euros.
The planned investments will enable further development and modernization of the company and the realization of key projects in a very changing macroeconomic environment, the Oil Industry of Serbia announced.
The business plan confirms the continuation of investments in all business segments, and most will be invested in the field of oil and gas exploration and production.
Significant money will be invested in further modernization of the Pancevo Oil Refinery, development of the retail network and services in Serbia and the region, as well as in the field of electricity production and trade.
NIS states that investments in environmental protection and safety at work, continuation of the digital transformation process, improvement of operational efficiency, as well as further development of synergy with HIP Petrohemija remain a priority.
In the field of oil and gas exploration and production, NIS will continue with the implementation of programs in Serbia, expansion of the project in Romania and further development of the project “Obudovac” in Bosnia and Herzegovina.
In oil refining, along with the growth of volume, the priority is to increase the depth of refining, and the production of biofuels.
The third phase of the modernization of the Pancevo Refinery will include the continuation of activities related to the upcoming reconstruction of the catalytic cracking plant and the construction of a plant for the production of ETBE (high-octane gasoline components).
NIS plans further development of the retail network, realization of the strategic project of reconstruction and modernization of the storage of petroleum products, as well as improvement of the quality of goods and services.
“The commissioning of the Pancevo Thermal Power Plant and the continuation of activities related to the Plandiste wind farm project are basic development projects in the field of energy,” the statement said, Sputnik reports.