FORADEX YESTERDAY 

The Company was established by the Romanian State in 1939 under the name of “Commercial Administration for Mining, Prospecting and Exploration"”(ACEX).

 Since 1939, the Company has been successively named:

• - “State Exteprises for Mining Exploration” (ISEM) (1950 – 1066);
• - “Geological Exploration Division” (IGEX) (1966 – 1970);
• - “Enterprise for Drilling and Special Geological Works” (IFLGS) (1970 – 1990).

 In 1991, IFLGS, whose majority shareholder was the Romanian state at that time, was transformed into a Joint Stock Company named S.C. “FORADEX” S.A., registered with the Trade Register of Bucharest under No.J40/1864/15.04.1991.

 Since its beginnings, the main objectives of the Company’s Activity have been to perform exploration and prospecting works, using drilling, mining and other specific methods for discovering new fields of oil, gas, geothermal water and other useful mineral deposits (such as coal, minerals, ornamental rocks) and to design and manufacture the technical facilities specific to the drilling activity.

 Here below are listed some Of the results obtained from the geological research performed by FORADEX:

• The finding and identification of 850 deposits oil, gas, geothermal water, mineral and drinking water, carbon dioxide, iron and gold ores;
•  The identification of the first oil and gas field discovered in the Black Sea as a result of the first offshore well drilled in Romania in 1979. . 1 Among the outstanding technical achievements, the following are to be mentioned:
  •  - since 1970, under the USA – Christensen Diamond Products License, FORADEX manufactures drilling tools with natural diamond type “surface set” for the geological drilling as well as for oil drilling, drilling in concrete and reinfoced concrete (crowns and core heads – over 300,00 pcs. And bits – over 4,000 pcs.);

  

  • - technology and equipment improvernent for large diameter drilling (4,000 mm diameter and 400 m depth); - equlpment manufacture and supply for geological and geotechnical drilling employed by offshore platforms for spild mineral deposits research and prospecting;

  

  • - the preparation of engineering projects for over 300 wells (for depths starting with 300 m and down to 800 m) for underground water in Libya, as part of the works performed in East El Jabal Hassauna, Sarir and Jaghboub area , for the Libyan Great Man-Made River Project.