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NIS of Serbia Invests $25 Million in Oil Exploration Equipment

Naftna Industrija Srbije AD (NIIS), the Serbian oil and gas company controlled by OAO Gazprom Neft (GAZP), will invest $25 million in equipment for its oilfield services unit.

The Novi Sad, Serbia-based company bought three drilling sets for $7.5 million as well as equipment for geological surveys from Sercel, a unit of CGGVeritas (GA), the world’s largest surveyor of oilfields, NIS said in an e-mailed statement today.

To contact the reporter on this story: Misha Savic in Belgrade at msavic2@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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