Zivkovic Samardzic has announced that it is representing Oiltanking in the company's entrance into Serbia via a joint venture with Serbian Public Enterprise Transnafta Pancevo.
Oiltanking is the world's second-largest operator of tank terminals for petroleum products, liquid chemicals, and gases.
The firm reported that Oiltanking signed a February 20, 2014 Memorandum of Understanding on a strategic partnership with the Republic of Serbia providing for the establishment of a joint company with Serbian Public Enterprise Transnafta Pancevo, and a EUR 50 million agreement to construct and manage storage facilities for Serbian emergency stocks of oil and petroleum products. The Memorandum of Understanding was signed by Zorana Mihajlovic, the Serbian Minister of Energy, Development and Environmental Protection, who declared that Serbia's current storage capacity of 716,000 cubic meters of oil should be expanded by another 250,000 cubic meters by 2023.
Oiltanking, a subsidiary of Marquard & Bahls, owns and operates 75 tank terminals in 23 countries in Europe, North and South America, and in the Middle East, India, and Asia with a total capacity of 23.1 million cubic meters.
Zivkovic Samardzic Partners Branislav Zivkovic and Uros Dordevic lead the team representing Oiltanking.