The Board of Directors of NIS a.d. Novi Sad has approved the Business Plan for 2024, which includes planned capital investments amounting to 59.7 billion dinars, or around 510 million euros for the next year.
According to the Business Plan, NIS’s main priority is to ensure stable operations and implement key projects in a highly dynamic macroeconomic environment, as stated by the company.
In this regard, NIS’s main focuses for the next year will be ensuring stable market supply during the major overhaul of the Pančevo Oil Refinery, maintaining a stable level of oil and gas production, readiness for various macro parameter scenarios, and the implementation of an ambitious investment program.
Investments will be realized in all business segments, including further synergy with the petrochemical sector and the continuation of digitization at all levels.
In the field of oil and gas exploration and production, the focus in 2024 will be on implementing drilling programs in Serbia and maintaining high efficiency in activating new wells, as stated in NIS’s announcement.
The plan also includes commissioning two small power plants in the Banatsko Miloševo and Srpska Crnja fields to monetize the remaining gas reserves.
The 2024 Business Plan for crude oil refining and semi-finished products involves conducting a major overhaul at the Pančevo Oil Refinery. Additionally, the plan includes the reconstruction of the industrial track at the refinery, projects to increase the operational efficiency of processing plants, and further digitization.
In the field of sales, there are plans for further development and modernization of NIS’s retail network through the construction of new facilities and the reconstruction of existing fuel supply stations. The reconstruction of the Niš oil base and the Novi Sad oil base will also be in focus.
The primary focus of the “Energy” Block will be to continue the implementation of the project to build photovoltaic solar power plants at gas stations and other company facilities. Additionally, projects to enhance energy efficiency and reduce emissions and CO2 utilization are planned.
