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Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation
Our goal is to use the best equipment and technologies to supply the Serbian market with energy produced in a way that preserves the environment (environmentally friendly manner). In 2022, NIS invested 22.1 billion dinars in modernization projects. Last year, NIS drilled the total of 46 exploration and production wells in Serbia and other countries of the region.
The company will continue to develop its Pancevo Refinery, one of the top (one of the leading) refineries in this part of Europe. As part of the third stage of the Refinery modernization in 2022 NIS worked focused on the reconstruction of the FCC unit and the construction of a new ETBE unit. In 2022 the company reached the highest volume of refinery production since 2009. The refinery processed 4.4 million tons of crude oil and intermediate products and increased the refining depth up to 91.46%. Further development of the refinery will be driven by digitalization and improvement of energy efficiency.
All units of the refinery operated reliably and f and without faults. As a facility with an integrated management system, the Pancevo refinery is continuously improving its efficiency and energy performance. NIS as a regional energy leader monitors the key energy efficiency indicators and implements solutions to reduce energy consumption to maintain compliance with all applicable legal requirements. By significantly reducing energy consumption and improving energy efficiency the company cuts operating costs and improves process efficiency.
Supply to the market reached record levels with over 4.3 million tons of fuel sold. The company continued developing its retail infrastructure to make sure its clients have access to best service, state-of-the art facilities, quality fuel and a wide range of goods. In 2022, NIS invested 1.5 billion dinars in such development. Nine newly constructed or renovated filling stations were added to the network, including the Backi Vinogradi 1 station, one of our flagships. NIS continuously upgrades its retail facilities. A new LPG unit has been installed at the Ledena Stena filling station. All obsolete facilities within the NIS network are regularly replaced. When planning and preparing its investment projects NIS observes all applicable regulations in the area of construction, energy efficiency, land access, and environmental protection.
In 2023, NIS plans to build three new filling stations and refit (refurbish) six. Existing ones. One more filling station will be leased long-term. At larger filling stations like Backi Vinogradi 1 NIS will install solar collectors for heating of sanitary water and chargers for electric vehicles. Furthermore, NIS will install containers for waste sorting at all of its filling stations.
To further diversify its business and accelerate the energy transition, NIS established the Energy Block in 2022.
In December 2021, NIS signed a strategic cooperation agreement with HIP Petrohemija. According to the agreement NIS will increase its share in HIP Petrohemija from 20.86% to 90%. NIS undertakes to contribute 150 million euro into the company’s equity and within six years construct a polypropylene production unit with the capacity of at least 140,000 tons per year. The period before the deal is completed and all prerequisites fulfilled is the transition period. The deadline for the completion of the deal has been extended till June 30, 2023.
Digital transformation remains a key focus area of the company’s development with over a hundred ongoing projects. Priorities in this field include continuous improvement of business processes, adoption of digital solutions and technologies enhancing performance of its business activities, and continuous work to improve competencies, and a strong focus on employee safety.
NIS remains committed to its strategic direction in digital transformation, including the introduction of new formats of interaction with clients and the implementation of digital platforms and products for more efficient operations.
Relying on the good results of 2022, NIS will be able to keep up its ambitious investment policy. In 2023 the investments will be doubled. Modernization across all segments of the business remains a priority.