Author:
Name & Surname: Kravchenko K. A.
Company: JSC «Neftyanaya industriya Serbii» (Novi Sad, Serbia) 

Work Position: Chief Executive Officer of the Company, Deputy Chief Executive Officer on Management of Foreign Actives of JSC «Gazprom neft»
Scientific Degree: Doctor of Economic Sciences
Contacts: e-mail: kabinetgd@nis.eu

JSC «Serbian Petroleum Industry» (NIS) is one of the largest vertically-integrated energy companies in Southeast Europe, whose majority shareholder (56.15% of share capital) is held by the Russian Company «Gazprom Neft» since 2009. NIS is the only Serbian company engaged in the exploration, production and refining of crude oil and gas, as well as in the production of geothermal energy and supply of a wide portfolio of petroleum products. Nowadays, the Company’s assets include 597 operating oil and 98 gas wells. Besides, NIS has 18 units for extraction of geothermal waters and conducts the refining activities of liquefied petroleum gas at Serbian gas-processing plants. Annual volume of oil extraction in Serbia is near 1.6 mln.t of oil equivalent. Nowadays, NIS priorities in the area of prospecting and extraction of hydrocarbons are: increasing the extraction volume and resource base development; reaching the high level of production capacity; implementation of new technologies and methods; expanding its business geography; decreasing costs and growing in the field of innovation and efficiency. The achievement of these objectives will result in bringing the oil extraction volume in Serbia to 2 mln. t during the next three years and to 5 mln t. and by 2020, respectively. Global trend in geological prospecting in the last years was defined quite clearly — the search of resources should be carried out in new and perspective areas. That is why the main task of geological prospecting nowadays is the identification of the “search start” — prospective sites which can become new sources of hydrocarbon raw materials. In that respect, NIS has started with the active development of concession activities in other Balkan countries for the purpose of ensuring a stable growth of their own oil and gas extraction. The main area of the Company’s business is still a wide Pannonian Basin. It covers the central part of the Balkan Peninsula and includes the whole territories of Hungary, Serbia and Croatia, as well as parts of Bosnia and Herzegovina, Slovenia, Slovakia, Austria and Ukraine (Zakarpattia Oblast). In addition to Serbia, NIS carries very active operations in Hungary and Romania. Prospecting-survey drilling of wells on several sites is carried out in Hungary. The drilling operations at the first Serbian horizontal well were successfully completed in 2013 in Kikinda Varosh oil deposit. By the end of 2014, gushing oil flow (40 t per day) was obtained in this well. NIS conducted first field 2D and 3D seismic explorations in Romania, in the area of Tria concession block. The results of the geological-prospecting works lead to the conclusion that the probability of discovering several new hydrocarbon deposits is high. In early 2014, NIS started with the implementation of the strategic project «Construction of regional geological model and assessment of prospective oil and gas regions of the Pannonian basin». The project covers the territory of Serbia, Bosnia and Herzegovina, Hungary, Romania and Croatia.

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2. Vysotskiy I. B., Olenin B. B., Vysotskiy B. I. Neftegazonosnye basseyny zarubezhnykh stran (Oil amd gas basins of foreign countries). Moscow : Nedra, 1990. 405 p. 

3. Dunaev V. F. Ekonomika predpriyatiy neftyanoy i gazovoy promyshlennosti (Economics of enterprise of oil amd gas industry). Edited by Professor V. F. Dunaev. Publishing House «Neft i gaz» of Gubkin Russian State University of Oil and Gas, 2006. 352 p. 

4. Biznes model NIS (Business model of NIS). Prezentatsiya otdela Svyazey s investorami (Presentation of Communication Department with investors). Available at: http://ir.nis.rs/fileadmin/template/nis/pdf/Reporting/Presentations/Russian/NIS_BP_2014_2016_rus.pdf. (in Russian) 

5. Otchet ob ustoychivom razvitii NIS za 2013 god (Review about sustainable development of NIS for 2013). Available at: http://www.nis.eu/ru/wp-content/uploads/sites/4/2014/07/nis_izvestaj_o_odrzivom_razvoju_2013_cir.pdf (accessed: February 9.02.2015). (in Serbian) 

6. Godovoy otchet o deyatelnosti NIS za 2013 god (Annual report about activity of NIS for 2013). Available at: http://www.nis.eu/ru/wp-content/uploads/sites/4/2013/07/nis_godisnji_izvestaj_2013_ru.pdf (accessed: February 9.02.2015).