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.
Gazprom Neft’s NIS to expand exploration in Southeastern Europe
Change font size:
Latest from Business & Economy
How a Sanctioned Russian Oligarch’s Business Interests Reached Albanian Public Contracts
Change font size: - + Reset Millions of euros flowed to companies linked to Strabag while Oleg Deripaska remained a major shareholder, exposing gaps in Albania’s ability to identify who ultimately benefits
Albania’s Cash Boom Raises Money Laundering Concerns
Change font size: - + Reset Cash outside Albania’s banking system reached a record 5.6 billion euros, last month. Tirana Times, August 30, 2026 – The amount of cash circulating outside Albania’s
Vlora Airport Heads to Arbitration
Change font size: - + Reset Albania faces another potentially costly international dispute after losing several arbitration cases in recent years that have exposed the state to hundreds of millions of euros
Concrete, Cocaine and Corruption: Albania’s Fragile Growth Model
Change font size: - + Reset Albania’s Concrete Economy: How Construction Became the Country’s Dominant Growth Model Tirana Times, July 10, 2026 – A booming construction sector has made Albania an outlier
Austria Leads FDI, but Real Estate Tells the Bigger Story
Change font size: - + Reset Bank of Albania data show Austria topping first-quarter foreign investment flows, while property and construction continue to shape Albania’s FDI model. Tirana Times June 25, 2026