The Companies of Smart Energy Group increased production of gas by 31% in 2018

The Companies of Smart Energy Group increased production of gas by 31% in 2018
In 2018 the companies of Smart Energy Group increased total production of gas by 31%. Overall, the Representative Office of Regal Petroleum Corporation Limited, Ukrgazvydobutok PrJSC and Prom-Energo Product LLC produced 295.7 mln m3 of gas versus 226 mln m3 over the same period in 2017.

At the same time, production of condensate went up by 40% from 18.3 K t to 25.7 K t.

Production of LPG increased by 50% from 4.6 K t in 2017 to 6.9 K t in 2018.

“Raising number of operating wells from successful implementation of the best engineering and management approaches in drilling and work-over projects completion allowed us to continue our growth trend during the current year. Objectives that we set in production program for the neхt period give us confidence in further production increase”, - noted Sergii Glazunov, CEO of the companies of Smart Energy Group. 
 As a reminder, in 2018 Smart Energy Group commissioned two wells in Kharkiv region (No. 28 at Ostroverkhivske field and No. 10 at Vasyschyvske field). The Group also successfully completed a work-over and restarted production of wells No. 12 and No 6 at Svyrydivske field in Poltava region.

Smart Energy is a part of Smart-Holding 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).