ADX Energy wants to invest about €100m over the next five years in oil exploration and exploitation in the city Timis. Paul Fink, the technical director of the Australian oil company, said ADX is trying to convince its investors that Romania supports activities related to oil and gas.
“Raising funds for a good project in oil or natural gas development is not the easy part. The main problem is to offer our investors the confidence needed that Romania is a country that supports these activities and as such they can be developed in a quick and efficient manner in terms of costs, while abiding to European and Romanian laws and regulations”, Fink was quoted as saying in local media reports.
ADX Energy leased the Parta perimeter from the Romanian government in 2012. Fink said the company, using modern technologies, is hoping to find oil stockpiles that weren’t discovered in the past.
