The investments of the «AS Petrol Moldova» Company into the construction of The First Oil Refinery In Moldova constituted 50 million lei ($4 million). The oil refinery, opened on July 15, 2005 was set up on the basis of the Comrat oil base, which is the largest one in the south of Moldova. The oil refinery can process yearly 30 thousand tons of the Moldovan oil, excavated by the «Redeco» Company in the vicinity of the Village of Valeni of the Cahul region. It is planned that within a year and a half the volume of the processed crude oil will be increased up to 150-200 thousand tons a year with taking into consideration the expected increase in the oil production on this oil deposit. The oil refinery in Cahul will produce gasoline, diesel and chimney fuel and black oil. According to the experts, the fuel and lubricants, produced by the oil refinery will cover 15-20% of the Moldova’s demand. Reportedly, the American Company «Redeco», working on the Valeni oil deposit has an exclusive right for 20 years (up to 2015). According to the estimates by the Company experts, the deposit contains 2-3 million tons of oil.