NIS Applies State-of-the-Art Software to Analyse Pannonian Basin Hydrocarbon Systems

October 24, 2014

The software procurement complies with the NIS scientific and technological base development plan, which serves to continuously improve the Company's business operations. PetroMod software package will be procured from Schlumberger, a global leader in the provision of petroleum industry services. PetroMod is the top-rate basin numerical modelling software and NIS Scientific and Technical Centre will be the first in the Balkans to put it into commercial use. Investments in the new software amount to more than EUR 500,000. Procurement of the software is a part of the project titled "Study of the Regional Geological Model and Pannonian Basin Oil and Gas Prospectivity Assessment", initiated by the NIS Scientific and Technical Centre. The project will be implemented over a period of two years, aiming to model the Pannonian Basin and select the most prospective regions for future NIS oil and gas exploration based on the analysis and interpretation of the geological data collected from the territory of Serbia, Hungary, Romania and BiH. "This is the first-priority strategic project. It should produce a more successful oil and gas exploration and efficiently increase the Company's resource base", says PhD Ivan Dulić, Head of the Regional Geology Section in the NIS Scientific and Technical Centre. Additional information: The NIS Scientific and Technical Centre supports projects in all stages of exploration and production, from designing and supervising geological and exploration works to creating models, monitoring development, and designing infrastructure facilities and well arrangement. The main asset of the Centre is its staff, six of whom hold PhD degrees, over 50 are highly-skilled experts with master degrees, and over a hundred experts hold bachelor's degrees.