The Managing Board of the Serbian Oil and Gas Company (NIS) has discussed and accepted the privatisation strategy drafted by privatisation advisors Merrill Lynch and Raiffeisen Investment .

The board will send its approval to the working group of the Serbian government for the coordination of the privatisation advisors work.

The Managing Board also adopted a report on drafting of a programme for improving NIS business operations, which is drafted in cooperation with company Shell, and a report on the implementation of the business-information system SAP.

These activities will significantly improve NIS operations and will raise the companys value prior to privatisation. The Managing Board stated that successful privatisation represents a chance for development, modernisation and improvement of NIS regional market position.