26 May 2011 / 10:44
Serbia's oil company NIS has signed a memorandum of understanding with Canadian-based East West Petroleum Corporation to explore for oil in Romania.
Tanjug, B92
The two companies plan to drill 12 holes in four blocks in Romania.
NIS, which is majority-owned by Russia's Gazprom, said in a statement on Wednesday that the new joint project of development of oil blocks in Romania, which are a part of East West Petroleum's asset portfolio, is one of the steps taken by NIS aimed at expanding its presence outside of Serbia....more...
read more: balkan insight
http://www.balkaninsight.com/en/article/serbia-s-nis-to-search-for-oil-in-romania
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