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NIS, Canadians Cooperate

Naftna Industrija Srbije, controlled by Gazprom Neft, plans to explore four oil and gas blocks in Romania with Canada's East West Petroleum as it seeks to expand in the Balkans.

NIS, as the Serbian refiner is known, and East West are close to a cooperation agreement and plan to drill at least 12 wells at the blocks, which may contain shale gas as well as conventional oil and gas reserves, East West Petroleum said Wednesday in a statement.

(Bloomberg)

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