Smart Energy Group has increased production of gas by 30%


Over 11 months of 2018 Smart Energy Group has increased overall production of gas by 30% from 204.1 mln m3 produced last year versus 266.3 mln m3 produced in 2018.

The volume of gas condensate production has increased as well: from 16.6 K t to 22.8 K t.

“Over 2018 we have been demonstrating a consistent increase of hydrocarbon production, which resulted from successful implementation of a production program. During the current year we commissioned several wells in Kharkiv and Poltava regions, which are now showing anticipated flowrate. We are planning to implement a number of projects, which should allow us ramping up production and thus increasing payments to state and local budgets”, - noted Sergiy Glazunov, CEO of the companies of Smart Energy Group.

During the period January-November of the current year Smart Energy Group paid over 1.3 bln UAH of taxes.

As a reminder, once royalty got centralized local budgets in Poltava and Kharkiv regions received 12.3 mln UAH and 16.7 mln UAH of royalty for hydrocarbons, produced for 10 months of the current year.

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 region (Representative office «Regal Petroleum Corporation Limited») and Kharkiv region (Prom-Energo Product).