CAPITAL: Chisinau
MONETARY UNIT: Leu
REFINING CAPACITY: 0
OIL PRODUCTION: 0
OIL RESERVES: Undetermined
GAS RESERVES: Undetermined
A small independent operator hoped to start gas production during 1997 in Moldova, which imported all its oil and gas, mainly from Russia.
Redeco Ltd. LLC, Oklahoma City, sought commercial customers in Baimaclia for gas from a planned 5 km sales pipeline from nearby Victorovca field. The company is affiliated with Redexco Ltd., Calgary, and Costilla Energy Inc., Midland, Tex.
Redeco`s Victorovca 302 workover well in Cantemir County flowed 500 Mcfd of gas in January 1997 from 1,976-86 ft in the Miocene Sarmat formation. The well is in the eastern Carpathian basin.
Most wells in Victorovca field were 30-45 years old, but Redeco believed it could economically redrill the field. Victorovca field extends about 12 km east-west and 4 km north-south.
Upstream developments
Moldova has proved potential but in 1997 produced no oil or gas. Consultants have rated it of low interest to outside explorers because of perceived limited geologic prospects.
The Soviets carried out incomplete exploration before Tyumen discoveries in Russia in the 1960s. The republic became independent from Russia in 1991 and has a convertible currency, the leu (4.6 leu/$1 in 1997), same currency as in Romania.
Redexco and Costilla each hold 50% interest in an 8.3 million acre E&D concession that covers the entire republic. Parliament approved an initial exclusive oil and gas development concession for Redeco in 1995.
The companies hold exploration for 1996-2006 and 20 year development rights conveyed field by field. In 1997, development rights had been conveyed for Valeni oil field, Victorovca gas field, and Baimaclia gas field.
Action in 1997 focused on the Pre-Dobrogean depression, roughly the southern third of Moldova. The depression had yielded numerous shallow oil and gas shows, mostly in water wells.
Production to the west in Romania indicates commercial production possibilities in Mesozoic and Tertiary.
Paleozoic oil shows in Cainari and a depleted gas field near Ungheni indicate that Moldova`s central region has hydrocarbon potential.
