Gazprom Neft’s NIS to expand exploration in Southeastern Europe

BELGRADE, Oct. 25 – Naftna Industrija Srbije AD (NIIS), the Serbian oil and gas company controlled by OAO Gazprom Neft (GAZP), plans to expand exploration to 10 southeast-European countries to meet a 2020 production target. The vertically-integrated company, whose main oil and gas production is in Serbia and runs exploration ventures in Romania, Hungary and Bosnia-Herzegovina, may add sites in Montenegro, Albania, Slovenia, Bulgaria, Croatia and Greece in its search for hydrocarbons, according to a presentation released in Belgrade, Bloomberg reports.
In Montenegro, it plans to “take part in a tender for off- shore blocks in partnership with interested companies,” while in Albania and Bulgaria it may “participate in projects,” the company said without providing details.
Russia’s Gazprom Neft bid only 52 mln Euros in a tender held last month on the sale of Albpetrol firm. Albpetrol was sold for Euro 850 mln to U.S based Vetro Silk Road Equity.