Romania: ADX Energy Australia to invest 100MEUR in oil exploration, SEE Energy News
ADX Energy oil company could invest up to 100 million in exploitation of oil fields of Timis area.ADX Energy is headquartered in Perth, Australia, and has approvals for exploration of hydrocarbons in Europe and North Africa.
“Fundraising for a good project for development of oil or gas is not easy but the main issue is to provide our investors confidence that Romania is a country that supports activities related to oil and gas and, therefore, activities can be performed in a fast and efficient in terms of costs, in accordance with the laws and regulations of the Romanian and the EU, “said Paul Fink, Technical Director of ADX Energy said on Tuesday.
Fink added that according to the results of the exploration phase, ADX Energy costs can reach up to 100 million in five years. ADX Energy has leased in 2012 from the Romanian state area called hand Timis, conventional exploration of oil and natural gas in the area of Timisoara. ADX Energy is headquartered in Perth, Australia, and has approvals for exploration of hydrocarbons in Europe and North Africa.