Smart Energy Cuts Gas Production By 0.8% To 300 Million Cubic Meters For 9M
Ukrainian News Agency
In January-September 2021, the Smart Energy group of companies reduced gas production by 0.8% to 299.9 million cubic meters compared to the same period last year. The company has said this in a statement, Ukrainian News Agency reports. "The total volume of natural gas production by its companies amounted to 299.9 cubic meters, gas condensate - 27,400 tons. This is 0.8% less and 4.1% more, respectively, compared to the same indicators of the last year," the statement says. Also, for the nine months of 2021 Smart Energy produced 7,197 tons of liquefied propane-butane, which is 6.7% more than for the nine months of 2020. "Despite the natural depletion of the reservoir energy of the productive horizons of the fields, which are being developed by the companies of the Smart Energy group, the production volumes remain stable. In particular, the average daily gas production is 1.1 million cubic meters per day," the statement says. Smart Energy also continues to increase production in Poltava region thanks to the commissioning of a new well (No. 25) at the Svyrydivske field. At that, due to the shutdown of one of the wells for capital repairs and natural depletion of productive horizons, a decrease in production volumes is observed at the fields of Kharkiv region of the group. “Throughout the reporting period, we have been actively working on maintaining production volumes at our fields. Now our companies are activating their resources in the direction of drilling new wells in order to return the positive dynamics of production growth. In particular, two new wells are currently being drilled and we plan to start drilling one more soon," said Serhii Hlazunov, CEO of Smart Energy Group. As Ukrainian News Agency earlier reported, in 2020, the Smart Energy group boosted gas production by 8.6% or 31.8 million cubic meters over 2019 to 400.6 million cubic meters. Also, the production of gas condensate increased by 4.8%: from 33,100 tons to 34,700 tons. Liquefied propane-butane production increased by 9.5% from 8,400 tons in 2019 to 9,200 tons in 2020. Smart Energy is a management company within Smart Holding, which is responsible for the development of projects in the field of geological exploration and industrial development of hydrocarbon deposits, as well as alternative energy. The oil and gas wing of Smart Holding is represented by the British company Regal Petroleum, as well as by the Ukrainian gas production enterprises Prom-Energo Product (in 2016 it became part of Regal Petroleum) and UkrGasVydobutok. Smart Holding is controlled by a businessman, a non-factional deputy of the Verkhovna Rada Vadim Novinsky.