19.12.2011 | Pressemeldung
The aim of the cooperation is to combine investments and share the risks and benefits inherent to the exploration of gas and oil resources. Under the terms of the agreements NIS will earn a 50 percent participating interest.
After the acquisition and interpretation of a high quality 3D seismic in 2011 the partners plan to drill the first exploration wells in 2012. Exploration, appraisal and development costs and production in the license area will be shared in accordance with the parties participating interest held under a Joint Operating Agreement. RAG Hungary shall be the operator under the agreements.
By combining skills, knowledge and experience in neighbouring exploration areas in Hungary and Serbia the cooperation will create benefits for both partners and will stimulate investments in exploration activities in Hungary.
Kirill Kravchenko CEO of NIS said:
“Partnership with RAG is another step towards the realisation of our strategy. NIS actively develops its business abroad. In the focus of our attention in the field of oil and gas exploration is the area of the Pannonia basin, and today in our portfolio there is a several perspective production projects in the territory of Hungary, Romania and Bosnia in which we are involved , and in which we develop knowledge and expertise in that area. Currently, our portfolio has several perspective production projects in Hungary, Romania and Bosnia. The main goal of our development in this direction is the increase in volume of hydrocarbon production in the future – equally important is the resource base and reserve level increase. In this process, we cooperate with the best partners – leaders in their industries. The partnership with RAG gives us new experience, new geographical and technological perspectives“.
About NIS:
NIS is one of the largest, vertically integrated oil and gas companies in Southeast Europe, dealing with exploration, production and refining of crude oil and natural gas, as well as with the sales of a broad range of petroleum products. The main shareholders of the Company are Russian energy holding company “Gazprom neft” and Government of the Republic of Serbia. The Company owns two oil refineries in Pancevo and Novi Sad, as well as an extensive network of filling stations. The company operates in many Europe countries. In particular, NIS performs exploitation projects and production in Serbia, Hungary, Romania, Bosnia and Hercegovina and Angola.
About RAG:
RAG carries out E&P activities in Austria, Germany, Hungary and Poland. In Hungary, RAG’s operations are carried out by its 100% subsidiary RAG Hungary.In addition to exploration and production RAG is one of Europe’s largest operators of underground gas storage. The gas storages of RAG and its storage partners not only serve the Austrian market but provide users in the larger Central European region with storage capacity of 5 BCM targeting up to 6 BCM by 2014.
Press contact NIS: Sanja Lubardic, Milentija Popovica 1, Novi Beograd 11 070, Republic of Serbia, + 381 11 313 01 16, www.nis.rs
Press contact RAG: Ernst Burgschwaiger, Bocskai út 134-146, H-1113 Budapest, T +36 (1)505 6800, www.rag-austria.at