Australian company ADX Energy Ltd, which owns 50% of the Parța hydrocarbon concession, from Timis county, started the drillings at the Iecea Mică 1 well in the Iecea Mare perimeter, after obtaining the ANRM approval for the transfer at the end of October the production license for the perimeter from Amromco Energy to the local subsidiary ADX Energy Panonia, according to profit.ro.

The company estimates that the drilling will intersect the first already identified reservoir (PA IV) approximately 13 days after the start of the drilling works.

The drilling and evaluation program of the potential of the Iecea Mică 1 well will last approximately 27 days.

Last summer, ADX Energy signed an agreement with Amromco, Romania’s leading independent producer of natural gas, for the acquisition of the Iecea Mare production license, an area located within the Parța perimeter. The production license covers an area of 4.7 square kilometers and expires in November 2034. Under the agreement, ADX Energy will pay Amromco Energy 30,000 euros, plus a 5% royalty for gas that could be extracted in the Iecea Mare area.