Smart Energy Group increased hydrocarbons production

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17.01.20

In 2019 the companies of Smart Energy Group increased hydrocarbons production. The total production of gas is 24.7% up y-o-y and gas condensate production is 28.7% up y-o-y, due to putting into production new wells and workovers of existing wells.

Thus, the total gas production by the Representative Office of Regal Petroleum Corporation Ltd., PrJSC Ukrgazvydobutok and Prom-Energo Produkt LLC made up 368.8 mln m3 (295.8 mln m3 for 2018). Gas condensate production of the group totaled 33.1 K t (25.7 K t for 2018).

LPG production grew up by 21.7%: from 6,9 K t in 2018 up to 8.4 K t in 2019.

Consequently, the average daily production made up 1,010 K m3 (+24,7%) of gas and 91 t of gas condensate (+28,7%) last year.

“2019 was a special year for Smart Energy Group: this year our average daily gas production has reached 1 million cubic meters per day due to launch of new wells and workovers of existing ones. We do not plan to rest on our laurels and have ambitious plans of further development of our business in Ukraine and increase of our hydrocarbon production,” said CEO of Smart Energy Group Sergii Glazunov.

Earlier, in 2019 the Group drilled and put into operation well No119 at Mekhedivsko-Golotovschynske field in Poltava region, completed workover and put into operation well No1 and No21 at Ostroverkhivske field in Kharkiv region. Drilling works have been started in Poltava region as well.

Reference

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

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

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