The Board of Directors of NIS a.d. Novi Sad adopted the Business Plan for 2024, which plans capital investments of 59.7 billion dinars, or about 510 million euros, in the following year.

The main priority of NIS, according to the Business Plan, is to ensure stable operations and the realization of key projects in a changing macroeconomic environment, the company announced.

To this end, NIS’s focus for the coming year will be stable supply to the market during the capital overhaul of the Pancevo Oil Refinery, maintenance of a stable level of oil and gas production, preparation for various scenarios of macro parameters and the implementation of an ambitious investment program.

Investments will be realized in all business segments, including further synergy with the petrochemical sector, as well as the continuation of digitization at all levels.

In the field of oil and gas exploration and production, the focus in 2024 will be the implementation of the drilling program in Serbia and the preservation of the high efficiency of activating new wells, it was stated in the NIS announcement.

The commissioning of two small power plants on the Banatsko Miloševo and Srpska Crnja fields is also planned to monetize the remaining gas reserves.

The business plan for the year 2024 in the field of crude oil and semi-products processing foresees the implementation of a capital overhaul in the Pančevo Oil Refinery. Also, the plan is to reconstruct the industrial track in the Refinery, implement projects aimed at increasing the operational efficiency of the processing plants and implement further digitalization.