Source Pravda.Ru

Moldova's oil deposits amount to 3m tons

According to estimations of the US company Redeco, which has an exclusive right to explore oil and gas fields in Moldova until 2015, the republic's oil deposits amount to some 2m-3m tons, Igor Oleynov, the head of the Redeco-Moldova company, told RosBusinessConsulting stressing that these reserves were worth $300m.

Oleynov said that Redeco had invested some $12m in exploring oil and gas fields in the republic since 1995. Some 500,000 tons of oil and 1.2m cubic meters of gas have been produced already, he mentioned.

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