NIS announced the first tender competitions for the purchase of equipment for the implementation of the program for the technical modernization and reconstruction of its processing complex.

On 2 March 2009, Naftna industrija Srbije (Petroleum Industry of Serbia, NIS) announced the first tenders for the purchase of equipment within the framework of the program for the technical modernization and reconstruction of its processing complex.

Following the results of the open tenders, NIS will select a partner to supply it with a hydrocracking reactor, a hydrotreater and a high-pressure separator for the construction of a soft hydrocracking and hydrotreating plant (МHC/DHT) at the oil refinery at Panchevo.

The construction of the plant will enable the production of improved motor fuel (Euro-5 standards). The soft hydrocracking and hydrotreating plant (МHC/DHT) will be commissioned in 2012 in accordance with the purchase and sale agreement of 51% of the shares of NIS by JSC Gazprom Neft.

NIS has created a special Tender Commission whose main task will be to evaluate proposals that it receives during the tender and to select the winners. The company plans to bring in international experts in the field of implementing similar investment programs to participate in the evaluation of the tenders.

As explained by the General Director of NIS, Kirill Kravchenko: “One of the aspects of the program to raise the efficiency of NIS will become the deeper processing of oil and the increase in the production of high-profit products. The program for the technical modernization and reconstruction of NIS’ processing complex will enable the company to not only compete with the leading European oil companies but will ensure Petroleum Industry of Serbia’s steady leadership in the South Eastern European energy market”.

Detailed information about the tender procedure is presented on the website www.nis.rs in the section Javni Pozivi.