Board of Directors adopts the business plan for 2020

Board of Directors adopts the business plan for 2020Board of Directors of NIS j.s.c. Novi Sad adopts the Business plan for 2020 which confirms that implementation of ambitious investment programs will continue. Thus, during the next year, RSD 37.5 billion will be invested into further development of all business segments of NIS, but primarily in the oil and gas research and production, further development of processing capacities and retail network modernization.

In the upcoming year, the priority in the field of research and production will be further implementation of drilling programme and geological exploration works on profitable projects in Serbia and foreign concessions, and the continued trend of increasing the Company’s reserves. As for the processing, during the course of 2020, the facility for deep refining with delayed coking technology will start operating in the Pančevo Oil Refinery, where NIS will obtain larger quantities of petroleum products of the highest quality and also where the production of a new product – coke – will commence.

The main direction of investments in the sales and distribution of petroleum products will be continued modernization of retail network in Serbia and the wider region. The NIS priorities in this area are also development of sales of the new product (coke), and further development of sales and distribution of premium fuels and the supplementary assortment.

In 2020, in the field of energy, the construction of CCPP Pančevo will be completed and the plant commissioned – a project realized by NIS in cooperation with Gazprom Energoholding. This project is extremely significant for NIS for this new plant will produce thermal energy and electricity primarily for the needs of the Pančevo Oil Refinery while a part of produced energy will be directed into the energy system of Serbia.

In the upcoming year, NIS will continue the digitalization process on all company levels and invest into the portfolio of digital projects, thus expecting long-term effects on EBITDA margin.

Moreover, the focus of attention for NIS will be further improvement in the field of HSE so that the Company could additionally approach its goal in the field – work processes without injuries and adverse environmental impacts.