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The Chairman of the Executive Board of «Gazprom Neft» o.a.d. Aleksandr Dyukov met with the President of the Republic of Serbia Tomislav Nikolić in Moscow on 30 October. During the meeting, current issues were discussed regarding the development of NIS, whose largest shareholders are Gazprom Neft and the Government of the Republic of Serbia. Both sides positively assessed the Company’s production and financial results and agreed that NIS’s priorities in the medium-term perspective are further modernization of the Company’s facilities, application of modern technologies, expansion of the resource base and the development of the retail network on the Balkans, including the GAZPROM brand network. In order for NIS to reach the indicators planned by the development strategy by 2020, the Company Management shall be directed at the realization of a large investment program and further improvement of the Company work efficiency. There was also word that an important factor for NIS’s successful development is the preservation of the stable tax system and finding a solution with the Government of the Republic of Serbia on how to realize the obligations which large consumers have with NIS. After the meeting, Aleksandar Dyukov stated: «Serbia gained a reliable partner with Gazprom Njeft in the development of the energy sector. Last year we realized our obligations toward the Serbian Government by completing the modernization of the Pančevo Refinery which has become one of the most modern ones in the Balkans and has begun producing European standard fuels. We appreciate the constructive cooperation with our Serbian partners and our mutual operations have good results: in comparison with 2009, production at NIS has doubled and our tax payments to the Serbian budget have doubled as well. Our foreign projects are actively developing as well. NIS plans to continue with strengthening its positions in the Balkans and the Serbian economy. The Company strategy by 2020 predicts production growth by two or more times and the increase in the volume of refined oil and sales and distribution of oil products up to 5 million tons annually. I am certain the partnership established with the Company shareholders shall enable the successful realization of all plans made». President of the Republic of Serbia Tomislav Nikolić gave full support to NIS's development plans.