The awarded permit, which is 100% owned by ADX through its fully owned Italian subsidiary, is located on trend with ADX’s offshore Tunisian Kerkouane Permit and adjacent to its previously awarded d 364 C.R-AX license.
With excellent prospectivity, the block would allow the commercial development of smaller discoveries because of shallow water depths and the excellent fiscal regime in Italy, the company said.
Around 2,000km² leading edge Geostreamer (dual sensor) technology 3D seismic surveys has already been acquired by ADX and Shell in their respective Tunisian and Italian licenses.
ADX identified a number of large drillable prospects in its’ Kerkouane block, as per the surveys, on a geological trend which continues into the offshore Sicily area in Italy.
Image: Regional setting in the oil and gas rich foreland area, ADX licences in red. Photo: courtesy of ADX Energy Ltd.
