company · nis is the only company in serbia engaging in oil and gas exploration and ... the...

Company Profile

2 3Company Profile

About NIS

NIS operates in oil and gas exploration, production and refining and in sales and distribution of petroleum and gas products and implements petrochemical and energy projects.

The Company owns a refining complex in Serbia with two plants located in Pančevo and Novi Sad, and LPG plant in Elemir, seven small-size power plants driven by gas as well a network of petrol stations at the local market and in the countries of the region.

2.22million shareholders of NISat end-2014

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4 5Company Profile

NIS' main strategic target is to become the most effi-cient, fast-growing energy business in the Balkans, to maintain its leadership position in the Serbian market and to become one of the top three companies in South-East Europe.

Back in 2011, the Company launched its regional expan-sion in two business segments which it continued in 2014:

• Oil and gas exploration (in Bosnia and Herzegovi-na, Hungary and Romania)

• Retail network development (in Bosnia and Herzegovina, Romania and Bulgaria) Since 2012 NIS has been expanding its electricity, wind power and geothermal energy sector.

Gazprom Neft holds a 56.15% stake in NIS, while the Republic of Serbia owns a 29.87% stake. The remain-der belongs to citizens, employees, former employees and other minority shareholders. The Company closed the year 2014 with 2.22 million shareholders.

NIS meets 78%of total fuel demand in the Serbia market

In 2014, oil and gas reserves rose by

9% in Serbia and Angola

27.8 billion dinars of net income of NIS in 2014

02Professionalism

Acquiring up-to-date knowledge in order to build on expertise and the capacity to apply it in the work process.

Positive Attitude and Cooperation Readiness to join multifunctional groups and projects and respond to requests of our colleagues from other organisational units; fostering knowledge exchange and teamwork.

Shared Result

Working together to achieve tangible and outstanding results, striving for success with the prerequisite mutual assistance and cooperation of employees.

Initiative and Responsibility

Looking for new solutions both concerning duties and, more generally, the Company’s interests.

ValuesMission

By using natural resources and advanced technologies responsibly, to provide the people of the Balkans with the energy to move forward.

Vision

As a vertically-integrated energy company, NIS j.s.c.Novi Sad will become a recognized leader in theBalkans in its line of business, with its performance in sustainability and efficiency increase,its advanced social and environmental responsibility and modern customer service standards.

8 9Company Profile

Exploration andProduction

Geological exploration for oil and gas in Serbia has been carried out for over six decades.

NIS is the only company in Serbia engaging in oil and gas exploration and production and geothermal production

Geological explorations are carried out in Serbia and the region, in line with the 2011–2020 Geological Research Strategy.

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10 11Company Profile

logical and geophysical data processing and interpre-tation, geological modelling and HC reserve estimation, reservoir engineering and monitoring and other engi-neering services, laboratory testing and consultancy, development and implementation of programmes for process environmental control and environmental monitoring.

The aim is to develop “NTC NIS-Naftagas” into a re-gional hub that will meet the needs of NIS, Gazprom Neft and their subsidiaries, but also to provide servic-es to third parties.

Liquefied petroleum gas is produced in the Elemir plant. The plant is designed for the annual capacity of 63,000 tonnes of LPG and natural gasoline.

The Science and Technology Centre of NIS-Naftagas (“NTC NIS-Naftagas”) is a NIS j.s.c fully-owned subsidiary.

The Centre provides support to the Exploration and Production and other Company Blocks in the field of science, technology and innovation with the aim of increasing output and resources/values and reducing operational risks and costs.

The main activities of “NTC NIS-Naftagas” are: services in the field of research and development (R&D), geolog-ical design, geophysical design and supervision, geo-

Production includes the processes of production, col-lection, preparation and transportation of oil, natural gas and geothermal water, preventive and emergency maintenance of the system and associated infrastruc-ture.

NIS will continue the trend of expanding the resource base in view of oil and gas production increase. The key task in oil and gas exploration and production is to increase reserves by improving the efficiency of geo-logical research and by estimating the potentiality of the Pannonian Basin.

In production, NIS will continue reducing operational expenses and developing process automation projects by introducing new technological solutions.

Oil and gas are predominantly exploited in northern parts of Serbia.

Natural gas is obtained from 95 wells. The most signif-icant gas fields are: Međa, Martonoš, Itebej, Torda plit-ko, Miloševo.

NIS has more than

600 oil wells in exploitation


Services

The Services provide principal support to all oil and gas exploration and production processes in NIS as well as to third parties operating in this field of activity.

The Block owns all the equipment, plants and vehicles re-quired for:

• Geophysical exploration – applying seismic, gravi-metrical, electromagnetic and geo-electric explora-tion method

• Development, workover and completion of oil, gas and hydrothermal wells

•Specialised operations and measurement at oil, gas and water wells: electrical logging and hydrody-namic measurement, cementation, stimulation and testing

• Maintenance and repair of facilities and equip-ment, pipeline construction, installation of techno-logical oil and gas systems, preparatory construc-tion works for drilling and well workover.

The Services aim at strengthening their regional and international presence, their priority thus being to pro-vide top-quality services and improve technical and technological efficiency and engagement in NIS and other companies.

Owing to its cutting-edge equipment and professional personnel, the Services have performed operations in a number of countries (Egypt, Turkmenistan, Azerbai-jan and other). This Block was also engaged in opera-tions in Bosnia and Herzegovina and Romania.

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Refining

The Refining engages in production of petroleum prod-ucts compliant with European quality standards.

NIS produces a broad range of petroleum and natural gas products that meet international quality stand-ards and production specifications for refineries: Euro 5 compliant engine fuel, aviation fuel, liquefied petro-leum gas, raw materials for petrochemicals industry, motor oils and lubricants, fuel oils, bitumen and other products.

NIS’ refining complex consists of two production plants in Pančevo and Novi Sad. The maximum designed ca-pacity of the plants at both refineries is 7 million tonnes of crude oil per year.

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By modernising the Pančevo Oil Refinery, NIS has ensured full transition to producing fuel compliant with European standards


Modern Refining Complex

By completing the first stage in modernising the Pančevo Oil Refinery, NIS has ensured a full transition to the production of fuels compliant with European quality standards. This has enabled NIS to assume strategically important leadership in the regional pe-troleum product market while ensuring energy stabil-ity for the Republic of Serbia.

The modernisation programme is centred on the con-struction of mild hydrocracking and distillate hydro-treating complex (MHC/DHT), which has brought NIS a full transition to the production of environmental-ly-friendly fuel that meets European quality stand-ards.

Modernisation of the Pančevo Refinery continues. The process will ensure an increase in the production of top-quality white products, namely gasoline, diesel fuel and jet fuel that meet Euro 5 quality standards, and also promote the energy efficiency of refining.

Lubricants

NIS has a long-standing tradition of lubricant production. This is a specific segment in NIS that includes the develop-ment, production and sale of oils and process liquids.

NISOTEC production line includes a broad array of products compliant with the latest quality require-ments set by automobile and equipment manufactur-

The modernisation of Pančevo Oil Refinery is an im-portant environmental investment, given the fact that it practically stopped noxious emissions into the air, water and soil.

Thus was met the obligation taken over by Gazprom Neft as the strategic partner, under the Intergovern-mental Agreement on Strategic Energy Cooperation signed between Russia and Serbia in 2008. Under the Agreement, over 540 million euro was invested into NIS' refining facilities.

The Refinery modernisation project involved the most competent companies from Serbia, Japan, Czech Re-public, Russia, France, Italy and other countries. As many as 2,000 workers were engaged daily in the con-struction of new plants.

ers. The high quality of products, cutting-edge tech-nologies, engineering service and up-to-date approach to sales have ensured a rapid growth and the leading position in the Serbian market, as well as the penetra-tion onto the markets of all regional countries.

The lubricants business has also added Gazprom Neft Lubricants’ premium products with a commercial title G-Energy to its portfolio.


Sales and Distribution

The Sales and Distribution are structured around for-eign and domestic trade, domestic wholesale deliveries of crude oil, gas and petroleum products, and domestic and foreign retailing of finished petroleum products and a series of associated products.

NIS has the largest network of petrol stations in Serbia which included 333 gas stations in 2014. The Company began expanding this segment into the Balkan coun-tries (Bosnia and Herzegovina, Bulgaria and Romania) where 88 petrol stations are currently active.

NIS is present with two brands in the market of Serbia and the region: NIS Petrol and GAZPROM Petrol Sta-tions.

NIS’ petrol stations earned the Best Buy Award in 2014, as customers voted it as offering the best value for the money.

For GAZPROM petrol stations, NIS received the Best from Serbia Award.

At the Serbian and regional markets, NIS is present with two brands: NIS Petrol and GAZPROM Petrol Stations

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The Company has a network of fuel storage stations in Serbia and a modern vehicle pool for transportation of petroleum products. All fuel types are subject to strict and regular laboratory testing and meet domestic and international standards. The network's operational ef-ficiency has grown following the introduction of state-of-the-art technologies.

As separate business segments, NIS also develops avi-ation fuel supply and bunkering of diesel fuel and Euro Diesel at specialised stations.

• NIS is the leader in aviation supply, both of jet fuel and aviation gasoline, in Serbia. Fuel supply at two international airports in Belgrade and Niš represents one sales channel. The second channel is the export of aviation fuel to neighbouring markets, primarily Romania and Hungary. The quality of NIS' jet fuel meets international and domestic standards for this aviation fuel type. Accredited laboratory within Aeroservis is per-forming aviation fuel testing only. NIS owns a modern facility for storage and distribution of aviation fuel located at the Nikola Tesla Airport in Belgrade, and it is the best equipped facility of its kind in the region. NIS' Aeroservis meets strin-gent standards in terms of reliability and efficien-cy of supply, which is affirmed by the high rating given by the international association IATA, which controls all aviation segments. Late in 2011, NIS purchased three new specialised tank trucks for supplying the Nikola Tesla Airport. This mil-lion euro investment enabled NIS to ensure regu-lar, timely and safe aviation supply at the Bel-grade Airport.

• On the Danube, Serbia's most important waterway, NIS has four bunkering stations supplying vessels with Euro Diesel and lubricants: in Novi Sad, Veliko Gradište, Prahovo and Smederevo. The facilities with the latest, environmentally-friendly equip-ment and top-quality fuel provide reliable supply to foreign and domestic ships. NIS' goal is to become one of the leaders in the regional market in bun-kering.

NIS develops the sales and distribution of lubricants and bitumen.

NIS’ Retail BrandsNIS Petrol retail network has been given a modern visual identity; the two colours, red and white, that featured the former, recognisable NIS Petrol brand were supplemented with the blue in the logo denoting the synergy with the Gazprom Neft's brand.

NIS actively follows and introduces new standards for customer service and new technologies in the operation of NIS Petrol stations, closely monitors fuel quality at our petrol stations and applies flexible pricing policy.

Introduction of the new brand GAZPROM Petrol

Stations is a major project for NIS' getting into the market with a new premium brand. A network devel-opment under the new brand is planned for Serbia, Bulgaria, Romania and Bosnia and Herzegovina. First of the GAZPROM Petrol Stations were opened as early as in 2011 in Serbia and Bulgaria, and then in Bosnia and Herzegovina and Romania.

The mass brand NIS Petrol offers reliability, availabili-ty, latest service standards and guaranteed quality of petroleum products.

The GAZPROM Petrol Stations network numbers 12 sta-tions in Serbia. All the new and reconstructed petrol stations have modern multiplex dispensers and offer petroleum products compliant with EU standards, top-quality oils and lubricants along with first-rate service (many facilities provide 24-hour service and have luxury convenience stores with café bars or res-taurants with internet access, spacious parking lots and playgrounds and a broad range of products on of-fer, and are disabled-friendly).

In 2014, NIS Petrol stations launched the sale of a new type of premium Euro Diesel - ULTRA D

Many NIS Petrol and Gazprom stations provide

24NIS has more than

420 petrol stations in Serbia and the region

NIS received Best from Serbia Award for GAZPROM petrol stations

NIS supplies fuel to two international airports, in Belgrade and Niš

hour service


Energy

The transformation of NIS from a national oil compa-ny into a regional energy holding is a part of the Com-pany’s Development Strategy. To this end, in 2011 NIS established a new organisational unit – Energy.

First compressed gas plant was put into operation in 2014 at oil and gas field Palić and it produces

5,500 kg of compressed gas a day

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The Energy engages in the production of electricity, heat and geothermal energy from traditional and re-newable sources, and also in gas and power trading, development and implementation of strategic ener-gy-related projects and improvement of energy effi-ciency.

In 2014 ended the construction of four small-sized power plants with five production units of a total power output of 3,650 kWe, which doubled the in-stalled power capacity compared to end-2013. The new small-sized power plants generated 31,912,000 kWh of electricity from 9.1 million cubic meters of non-commercial gas, which helped reduce technical losses.

NIS’ current capacities for power generation can meet 30 percent of its own demand. Projects have been pre-pared for the construction of two new power plants of 14,000 kWe in total. With the construction of these power plants, NIS will own the capacities which can almost fully meet its own demand for electricity.

In 2014, NIS sold its first volumes of the electricity pro-duced in its own cogeneration plants. Thus the Compa-ny became the only producer in Serbia, beside the Electric Power Industry of Serbia, supplying electricity to the free market.

4 small-sized power plants were put into operation in 2014

NIS has obtained a licence for performing the ener-gy-related activities of cogeneration and a licence for heat generation for the Energy Plant in the Pančevo Refinery, for the purpose of sale of electricity and heat to external buyers.

The Energy’s adopted strategy envisages: greater use of energy in Serbia and natural gas as an environmen-tally clean fuel in the region; use of environmentally clean renewable energy sources; enhanced energy effi-ciency of NIS; application of latest technologies in en-ergy generation from domestic fuel sources with min-imum environmental impact, and optimisation of business for power and natural gas trading in a liber-alised market.

In 2014, NIS sold its first volumes of electricity produced in cogeneration

NIS has a total of

11 small-sized power plants at oil and gas fields in Serbia


NIS Worldwide

In line with the Long-term Development Strategy, in 2010 and 2011 NIS began growing its business outside Serbia.

As an international group with an international team of experts, NIS operates in 10 countries today. Regional-ly, the Company is expanding in two directions: in the field of exploration and production and by expanding sales and distribution.

Subsidiaries were established in Bosnia and Herzegovina, Bulgaria, Hungary and Romania, while a Company representative office was opened in Brussels in support to Serbia's EU integration efforts. NIS also has representative offices in Russia, Croatia and Angola

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Belgium

NIS was the first Serbian company to open a represent-ative office in Brussels in 2011. Opening of the Brussels office is a part of NIS' Business Strategy to establish leadership in regional oil and gas industry and to ap-ply European standards and new leading-edge tech-nologies in operations. NIS representatives in Brussels follow relevant EU directives and regulations and con-tribute to the European debate on energy, reduction of noxious emissions and environmental protection.

Angola

NIS launched its operations in this country as early as in 1980, while starting oil explorations after five years. From the establishment to late 2010, NIS has produced around four million tonnes of oil at Angola's concession reservoirs. In this country, NIS currently works in two production blocks, with six wells and at one exploration block in a consortium with the company Sonangol.

Bosnia and Herzegovina

Late in 2010, NIS and Neftegazinkor, a subsidiary of the Russian company Zarubezneft, founded a joint venture Jadran-Naftagas conducting hydrocarbon ex-ploration in the Republic of Srpska.

Early in 2013, NIS acquired OMV’s petrol stations in Bosnia and Herzegovina, one of the strongest net-works in the Bosnian market. In 2012, the first petrol stations in the Republic of Srpska were put into opera-tion. A network of 36 petrol stations operates under two NIS brands: a premium brand GAZPROM Petrol Stations and a mass brand NIS Petrol.

G-Petrol, a subsidiary of NIS, was recognized in 2014 as the largest investor in Bosnia and Herzegovina, while

GAZPROM petrol stations in this country received the reputable international Superbrands title for 2014.

Bulgaria

The Bulgarian market is among top-priority markets for NIS' retail network development in the region. In mid-September in 2011, a subsidiary was registered in the country under the name NIS Petrol EOOD. In mid-2013, the first GAZPROM-branded petrol station was opened in Bulgaria. The retail network in this country numbers 35 petrol stations today.

Hungary

One of the leading countries for conducting geological surveying works in the Pannonian Basin.

NIS partners in this country include Falcon Oil and Gas (Canada) and RAG (Austria), with joint projects in three exploration blocks near the Serbian border.

Romania

In this country belonging, in geological terms, to the Pannonian Basin, NIS has launched geological explo-ration activities at six blocks in a highly productive region in the west of the country.

NIS' representative office in the Russian Federation pro-vides protocol, administration and logistics support to NIS and its cooperation with Gazprom Neft.

Russian Federation

NIS' representative office in the Russian Federation provides protocol, administration and logistics sup-port to NIS and its cooperation with Gazprom Neft.

Turkmenistan

NIS has been providing services in the Turkmenistan market for over ten years. In the past decade, projects were implemented involving NIS' equipment for drill-ing, workover, mud logging and NIS' maintenance ser-vices provided to other companies for their oil explo-ration and production equipment. NIS' largest drilling rig, National-1, is currently engaged by the company Dragon Oil. In addition, seismic explorations are com-pleted for other companies present in Turkmenistan (RWE, Itera), so new tenders and exploration drilling operations are expected.

Bulgaria

Serbia

Romania

BosniaandHerzegovina

Hungary

Services SalesandDistribution

Refining

Energy ExplorationandProduction

Export

RussianFederationandEastEuropeWestEurope Nortх

Europe


Sustainability

NIS' vision of sustainable development rests on achieving balance and reliability and is aimed at re-sponsibility to future generations.

NIS is a modern company, and the nature of its main business activities requires special and continuous at-tention that would ensure a healthy, safe and secure environment. Thus we are developing clear-cut and solid procedures and standards, application of new clean technologies and partnerships with stakeholders.

Transparency in operation, trust in partnership, in-vesting in safety, healthy and professional develop-ment, responsibility towards environmental protec-tion, investments in society, its needs and values, represent the cornerstone of the sustainability prin-ciple we follow.

NIS sponsors a vast number of cultural, science, sports and educational projects but also charity projects and priority projects to local communities where NIS operates.

With the slogan “Future at Work”, we have defined a platform for social responsibility with the main stra-tegic commitment to youth, specifically by supporting

and encouraging talented young people to realize their full potential and enhance their knowledge and skills, and assisting the development of the entire communi-ty in which the Company operates.

In 2014, NIS was awarded by the Serbian Association of Managers as the company with the highest degree of social responsibility in Serbia.

Sustainable development is one of the top priority commitments of NIS. The future we are building up is the future of energy efficiency with greater use of renewable sources, observance of laws and human rights, optimal use of available capacities and natural resources.

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In 2014, NIS was awarded by the Serbian Association of Managers as the company with the highest degree of social responsibility in Serbia.


Corporate Governance

NIS concentrates on meeting its targets and applying the highest standards in all business activities. Thus it is of a tremendous importance that corporate govern-ance is maintained at the highest level in order to safeguard the interests of shareholders, ensure suc-cessful business performance, retain the market posi-tion and contribute to the overall social development.

NIS has developed a bilateral communi-cation with shareholders and investors

NIS has adopted and applies the Code of Corporate Gov-ernance delineating the principles of corporate gov-ernance. The Code is aimed at introducing good busi-ness practices that should balance the leverage of its shareholders, ensure the consistency of control sys-tem and strengthen the trust of shareholders and in-

vestors so as to ensure a long-term business develop-ment of the Company.

NIS strives to apply the highest standards of provision of information. The Company has developed a bilater-al communication with shareholders and investors, who are able to obtain all the necessary information about the Company’s business operations.

Corporate governance is maintained at a high level in order to safeguard shareholders' interests, ensure success-ful business, retain the market position and contribute to the overall social development

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Investments

NIS’ dynamic growth would not be possible without investments. NIS invests in all business segments: exploration and production, refining, retail network development.

Important investment trends for future are tradition-al and alternative energy. Upon arrival of Gazprom Neft, the new majority shareholder, investments in the development of all Company’s business segments totalled nearly two billion euro, making NIS the major investor in the Balkans recently.

Due to its investing into the soaring development of retail network, refining capacities and environmental projects, the Company received the Investor of the Year Award in 2012.

Despite the harsh economic environment, 39.4 billion dinars were allocated for investments in 2014.

External factors that cannot be controlled by the Company will not prevent NIS from continuing its in-vestments in exploration and expansion of oil and gas reserves, development and modernisation of re-fining facilities and retail network, as well as con-struction of cogeneration facilities for the production of heat and power.

39.4GRSD allocated for investment in 2014 despite harsh economic conditions

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New Technology and Environmental Protection

The introduction and efficient use of new technologies is one of the priorities of NIS development in all busi-ness areas, from production and refining to human resources.

Equipment modernisation, innovation and applica-tion of latest technologies are prerequisite to pro-gress, competitiveness and achievement of regional leadership. NIS continuously modernises its oil and gas business, introducing and improving methods of oil and gas exploitation, building refining plants, au-tomating operations, developing and modernising the network of retail facilities.

To successfully complete scheduled projects and im-plement the Company’s development strategy, on-go-ing education and professional development of em-ployees, application of the latest and leading-edge technologies in the oil business.

NIS has adopted the Company’s 2020 Innovation and Science and Technology Development Concept, which is designed to provide support to theimplementation of Company’s Strategy, achieving competitive edge in

order to ensure stable regional leadership and build up the image of a modern innovative company that ap-plies latest technologies in its operations.

The vision of sustainability implies assuming respon-sibility towards future generations, the future we are building is the future of energy efficiency with greater use of renewable energy sources, observance of laws and human rights, optimal use of available capacities and natural resources, the future of optimal use of available capacities and natural resources.

Environmental protection is one of the top priorities and an integral part of the strategy for efficient man-agement of the Company.

Environmental protection is one of the top priorities and an integral part of the strategy for efficient management of the Company.

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Sustainable environmental management for NIS en-tails the implementation of projects aimed at equip-ment modernisation and reduction of noxious emis-sions into the air, soil, water and groundwater, remediation of historically-contaminated sites and environmental monitoring.

The results from responsible investing into environ-mental protection projects are more than evident: emissions of sulphur oxide into the air dropped al-most fivefold, of nitrite oxides threefold and of par-ticulate matter almost sevenfold.

In 2014 we continued investing in environmental projects. Implementation of some of the environmen-tal projects has already begun and they will positive-ly affect further reduction of noxious emissions into the air.

Тhe most important environmental projects of NIS in the previous period included:

• Modernisation of Pančevo Oil Refinery, which reduced air pollutant emissions, while the process of meeting EU’s 2009+ standards for low-sulphur gasoline and diesel fuel production have achieved a positive effect for the environmental image of the entire Serbia.

• Construction of the sulphurous acid recovery unit (SARU), which has resolved the issue of storage and safe disposal of hazardous waste and its transport.

• Reconstruction of the jetty in Pančevo, which prevents air pollution during oil and petroleum product loading/unloading operations and eliminates underground water and pollution during petroleum product transfer operations and reduced.

• At the Pančevo Oil Refinery ended the reconstruction of loading/unloading terminals, which is expected to yield significant environmental and economic effects.

• Reconstruction of waste water treatment plants, which has improved the quality of waste water and reduced the possibility of groundwater pollution.

• A new environmental method of dry location drilling was launched.

• Construction of petrol stations following the latest global trends (installation of oil separators, installation of double-ply tanks, energy efficiency facilities), which has reduced noise and ensured a proper protection of groundwater and soil.

In the upcoming period, considerable investments and crucial improvement of environmental conditions are planned through improvements in production pro-cesses and production of fuel compliant with EU qual-

ity standards. Apart from environmental projects, NIS will also invest in infrastructure projects with envi-ronmental effect, in petrol station modernisation and energy efficiency projects that indirectly contribute to environmental improvements.

Last five years saw NIS’ investments in environmental protection projects worth

88 million euros


Health, Safety and Environment

Our goal is the protection of people, assets and the en-vironment, humane working conditions and responsi-ble business operation. The means to this end are in-novation, investments and open dialogue.

NIS strives to rationalise the use of natural resources and reduce the negative impact on humans and the environment by improving its HSE (Health, Security, Environment) culture. Operating according to these principles continued throughout 2014.

The Company has a continuity of application of high standards in process safety and health care, following global trends and regulations. It is one of the essential requirements imposed by technical and technological development in the exploitation of resources and with raised awareness of health and environmental consid-erations. In 2014, NIS continued developing its process safety system.

One of the priorities and preconditions for being success-ful in the oil industry is a high degree of workplace health and safety. NIS dedicates close attention to em-ployee healthcare and physical safety of its employees, contractors, third parties and local population.

In a number of emergency situations caused by natu-ral disasters, such as heavy snow and rain fall at the start of the year and in last year’s May floods, NIS suc-cessfully resumed operation and offered help to the affected population.

NIS implements active management of the risks, maintaining it at the lowest level possible, with the aim of mitigating the consequences of emergencies in the areas where the Company is operating.

Our goal is to sustainably integrate HSE in day-to-day operations and corporate culture, which is the basis for application and fulfilment of legal and other obliga-tions and the requirements of all stakeholders – own-ers, employees, the society, partners and the state.

To expand the knowledge and raise awareness of the importance of HSE with employees, we have set up a motivation system to reward the best achievements in this area. In 2014, the HSE motivation programme covered a total of 270 employees.

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NIS andits Employees

One of the key resources of NIS as a modern and dy-namic company is its employees who contribute to the achievement of Company’s organisational targets by realising their personal and professional potential.

High qualifications and top quality are the founda-tions of NIS’ success. Major attention is paid to devel-oping specific staff training programmes, such as Can-didate Pool, Leader, Young Specialists ad NIS Chance.

Each of these programmes is designed for developing the level of expertise of specific employee groups with an aim to qualify them for taking part in achieving Company’s long-term ambitious target.

Investing in human resources is our most significant investment. The highlight of NIS’ success is its top pro-fessionals from over 20 countries from around the world. The title of the Employer of the Year NIS received

in 2012 testifies to the contentment of employees and to how much it invests in human resources.

By actively investing in developing skills and compe-tencies of its employees, NIS opens opportunities for Company employees to acquire the qualifications that meet European and international standards and all business segments.

NIS invests continuous effort to develop professional skills of its employees through corporate development programmes. In 2014, as many as 7,817 employees un-derwent 1,422 training courses.

By constantly investing in the development of knowl-edge, competencies and skills of young talents and suc-cessors, we enable the Company to have at any moment the best staff at key positions, which is a fact we are especially proud of.

Investing in human resources is NIS’ most important investment

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44 Company Profile

NISj.s.c.NoviSad

e-mail: [email protected]

12 Narodnog FrontaNovi Sad 21000(021) 481 1111

1 Milentija PopovićaBelgrade 11000(011) 311 3311

InvestorRelationse-mail: [email protected]

12 Narodnog Fronta Novi Sad, Serbia 21000

SectorforMinorityShareholdersRelationse-mail: [email protected]

12 Narodnog Fronta Novi Sad, Serbia 21000Info Service: (011) 22 000 55

Contact Details

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