In 2017, the companies of Smart Energy Group produced 226.3 mln cubic meters of natural gas which is 8.5% more than in 2016 (208.4 mln cubic meters).

Also, production of gas condensate amounted to 18.3 K t and 4.6 K t of LPG was produced out of hydrocarbons of equity production. In 2016, the production of condensate was 16.9 K t and LPG production amounted to 3.7 K t.

“Commissioning of new facilities allowed us to increase production volumes in 2017. This year we hope to keep on growing. Changes of legislation adopted at the end of last year should foster this dynamic, in particular, encouraging 12% rent for land for new wells, further voting for deregulation of gas production. We also hope that regulatory and law enforcement authorities will stop putting unjustified pressure on our business”, - noted CEO of Smart Energy Group Sergiy Glazunov.

As a reminder, in 2017 well #109 of Mekhedivsko-Golotovschynske field (Poltava region) was commissioned and drilling of well #28 of Ostroverkhivske field (Kharkiv region) started.

As was mentioned previously, in November 2017 Regal Petroleum (part of Smart Energy Group) signed a contract with Ukrnafta PJSC on possible use of well #12, that is located at Svyrydivske field (Poltava region), owned by Ukrnafta. Preliminary it is planned to perform a set of test on it. Also, at the end of last year mobilization of equipment needed to perform 3D seismic acquisition and make preparations for drilling of well #10 was started on Vasyschyvske field.

Reference

Smart Energy is a part of Smart-Holding in charge of implementing exploration projects, commercial development of the hydrocarbon deposits and alternative energy initiatives.

Oil & Gas business block of Smart Energy is represented by gas producing Ukrgazvydobutok (Kharkov region) and Regal Petroleum, a listed British company having assets in Poltava and Kharkov regions (Prom-Energo Product).