OREANDA-NEWS. On 30 December 2008 was announced, that JSC Gazprom Neft Board Chairman Alexander Dyukov and Serbia’s Energy Minister Petar Skundric signed an agreement for a 51% acquisition of NIS in Moscow. The agreement was signed in the presence of Russian President Dmitry Medvedev and Serbian President Boris Tadic.

The terms and conditions of the agreement are in line with the Governmental Agreement on Cooperation in the Oil and Gas Industry and the Memorandum of Agreement on the Principal Conditions of Gazprom Neft’s 51% Acquisition of NIS, which were signed January 25, 2008.

JSC Gazprom Neft Board Chairman Alexander Dyukov said: “Gazprom Neft’s 51% acquisition of NIS is one of the components of a broader energy agreement between Serbia and Russia. A stake in NIS will enable Gazprom Neft to naturally expand its business in Southeast Europe. Today Gazprom Neft has sufficient resources to upgrade Serbia’s entire refining industry and ensure its long-term efficiency”.