Smart Energy to Invest More than UAH 500 Million in Development in 2017


In 2017, Smart Energy plans to invest more than UAH 500 million in the Group’s development. The planned production level is about 220 million cubic meters of Ukrainian gas (against 208.4 million cubic meters in 2016). This was reported to journalists by Sergei Glazunov, CEO of Smart Energy Group.

The production program for the development of Smart Energy companies in 2017 provides for:

  • Resumption of idle wells' operation

Workover of six wells earlier drilled at Smart Energy's fields (own wells and those as part of joint projects with other companies).

In case of successful implementation, this will ensure good economic effect in a short time, as it is the fastest way to increase production with sufficiently predictable financial costs.

  • Drilling of new wells

It is the main strategic direction of Smart Energy's production program. It allows to significantly increase production and reserves, but at the same time is a risky, capital-intensive and long-term process (approximately 1 year is required before receiving the product, taking into account geological and technical conditions). It presupposes the use of modern technologies, equipment, chemical agents, the selection of optimal designs, high-tech methods of well completion.

In June 2017, well no. 109 of Mekhedovsko-Golotovshchinskoye deposit is put into operation and drilling of well no. 28 of Ostroverkhovskoye deposit is planned to be commenced.

  • Stimulation operations (mainly hydraulic fracturing)

At this date, the effectiveness of the stimulation operations at Vasishchevskoye and Ostroverkhovskoye deposits has been confirmed.

  • Geological surveys, exploration of deposits, increment of reserves.

This foresees execution of field seismic studies using the 3D technique in two license blocks; reworking and reinterpretation of previously performed seismic studies; optimization of geological and technological models of deposit development; calculation of hydrocarbon reserves and approval in the GKZ (State Commission of Ukraine on Mineral Resources).


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).