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NIS needs modernisation, strategic partner
Belgrade,
15 July 2005
Serbian Minister of Energy and Mining Radomir Naumov said today that the state oil and gas company NIS should be modernised first in order to increase its value and that the next step should be to attract foreign capital by locating a strategic partner.
Radomir Naumov
Following the opening of a modernised gas station in Stari Banovci on the Belgrade-Novi Sad highway, Naumov said that a strategic partner could help to reorganise the company, modernise production, and improve communication between sectors in the oil industry.
He explained that this plan must be realised through privatisation of joint ventures, under the supervision of the Ministry of Energy and Mining and with the assistance of privatisation advisers.
Naumov announced that a tender to choose a privatisation adviser will be called soon and that an adviser will be required to propose ways to attract foreign capital.
Naumov recalled that the government has approved the establishment of three companies that will be set up after the restructuring of NIS.
These companies are NIS, which will handle oil and gas production and exploitation, Transnafta, which will transport oil and oil derivatives, and Srbija-Gas, which will process, distribute, and transport natural gas.
He explained that this plan must be realised through privatisation of joint ventures, under the supervision of the Ministry of Energy and Mining and with the assistance of privatisation advisers.
Naumov announced that a tender to choose a privatisation adviser will be called soon and that an adviser will be required to propose ways to attract foreign capital.
Naumov recalled that the government has approved the establishment of three companies that will be set up after the restructuring of NIS.
These companies are NIS, which will handle oil and gas production and exploitation, Transnafta, which will transport oil and oil derivatives, and Srbija-Gas, which will process, distribute, and transport natural gas.
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