U.S. company to extract oil and gas in Moldova's south

An American company will invest millions of dollars in Moldova, to extract oil and natural gas in the south.

Premier Pavel Filip has signed a joint statement with the manager of Frontera Resources, Steve Nicandros. 

"Moldova is a country that will respect, is a predictable country, where you are welcome. We wait for serious and ambitious investors showing interest for Moldova. We’ll do our best to remove any barrier, there is no restraint in this regard," the Prime Minister said. 

Steve Nicandros has said the project will enhance the country’s power safety and will create new jobs: "Our explorations are meant to help Moldova to become independent in terms of energy. Our expenses are assessed at $6 mn in the coming five years. However, if you are successful we plan to spend from 50 to 100 million dollars."

The US ambassador to Chișinău, James Pettit, has welcomed the new projects running in Moldova: "I hope this project will contribute to developing the power security in Moldova. I am very glad the Government has decided that an American company will carry out this enormous project."

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