March 30, 2022 Article - NIS Moving Ahead With Romania Oil & Gas Project (East West Mentioned)

https://www.ekapija.com/news/3641677/nis-trazi-status-medjunarodnog-kljuc-u-ruke-operatora-na-teritoriji-eu-razmatraju

NIS seeks turnkey status of international operator in the EU - Different concession options are being considered

Source: eKapija Wednesday, March 30, 2022 | 15:54

Naftna industrija Srbije ad Novi Sad has announced a tender for the provision of consulting services on the possibility of creating the status of an international IPM operator in the field of exploration and production. The status of IPM operator implies integrated project management of exploration and production, in this case oil, or the so-called "turnkey".

As stated in the technical documentation, NIS plans to move to IPM status during the implementation of the project of building a plant on oil concession fields in Romania, which eKapija has already written about , with further establishing the status of international IPM contractor.

The task of the consultant, it is stated, is to determine whether there are restrictions in the legislation of Romania and the EU for concluding contracts on a turnkey basis.

In case it is impossible to conclude an IPM contract, it is further said, the consultant should determine the possibility of NIS being a consultant during the project implementation in Romania and suggest alternative options for hiring one general contractor for the job.

It is added that NIS is currently interested in gaining experience as an international IPM contractor in the EU, which is why various options are being considered within the concession arrangements.

The tender is open until April 11, about the details HERE .

It should be reminded that Naftna industrija Srbije ad Novi Sad announced in early February a tender for the preparation and preparation of documentation necessary for the construction of mining facilities in the concession fields of NIS in Romania.

NIS's Romanian subsidiary, NIS Petrol, has six oil and gas exploration concessions in Romania for 25 years. The exploration fields are located along the border with Serbia and Hungary. Two years ago, NIS Petrol Romania built two surface infrastructure facilities, at the locations of Teremija and Žombolj, where the experimental production of oil and gas began at that time.

The tender documentation for the consultant also explained the steps that led to the acquisition of joint concession rights of NIS and the Canadian East West Petroleum Corporation (EWP) by the Romanian National Mineral Resources Agency in May 2011.

Subsequently, 85% of EWP's participation in transferred to NIS by the concession agreement and that company was appointed as the project operator, and in 2014 all rights were transferred to NIS Petrol.