Deposits of gas, crude oil from southern Moldova return under state's control

Chisinau, 15 December /MOLDPRES/ - The parliament today adopted, in two readings, a draft law according to which the government will take over the control over the assets of exploitation of the deposits of gas and crude oil from southern Moldova.    

Thus, the deposits of hydrocarbons from Victorovca, Cantemir district, and the deposit of oil/crude oil Valeni from the Cahul district will return to the state’s property, as a result of the ceasing of the right of user over the hydrocarbons by the Redeco Ltd Company of the USA, subsequently taken over by the Valiexchimp Company.  

Thus, the patrimonial rights over the buildings, installations, materials, movable assets/real estate, involved in the technological process of deposits’ exploitation, are to be transmitted to the management of the Public Property Agency.    

The right to exploitation of the underground deposits will be given to the State Enterprise, Hydro-Geological Expedition of Moldova, EHGeoM. At the same time, the geological and technical documentation on the exploitation of the deposits of hydrocarbons, passports of derricks, weekly reports on the exploitation of derricks will be submitted from the Valiexchimp Company to the Environment Ministry and namely the Agency for Geology and Mineral Resources.