MOLDOVAN OIL, GAS DEPOSITS COMING ON STREAM.

In Septemberthe US-based Resource Development Corporation (REDECO) will drillthe first holes at the oil and gas deposits in southern Moldova,Deputy Prime Minister Valentin Kunev told the Petroleum InformationAgency August 14. Under the contract, REDECO will start exploitingthe Valeni oil field and the Viktorovka gas field, which haverecoverable reserves estimated at 10 million tons and 25 billioncubic meters, respectively. REDECO will assume all risks, andwill pay a 20 percent royalty in the form of gas, oil, or hardcurrency. The REDECO deal, and an oil terminal project on Moldova’sstretch of the Danube, are meant to reduce the country’s dependenceon "erratic and expensive imports from Russia," Kunevsaid.

Tiraspol Rations Bread.