Smart Energy Group has reached 1 million cubic meters of daily gas production

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Smart Energy Group of Companies has achieved an important strategic goal – 1,000,000 cubic meters of daily gas production. This was made possible thanks to the implementation of a number of successful drilling and workover projects. The most extreme of these was the project for the overhaul (de-preservation) of well No. 1 at the Ostroverhivsky gas condensate field in the Kharkiv region. This well is located in the license area of ​​the Ukrgasdobycha company (Smart Energy group) and belongs to
state company “Ukrgasdobycha”, between which an agreement on cooperation.

“For us, an output of 1 million m3 / day means the beginning of a new stage in the development of the Smart Energy group. this
The indicator is an incentive for our next equally ambitious goals and plans. Our strategy
aims to further develop the Smart Energy group and promote Ukraine’s achievement
non-volatility. Our professional team will continue to implement the new ambitious
projects. Only in 2019 the capital investment program provides for an investment of 1
billion UAH We expect that further legislative changes and online implementation will contribute to this.
auctions, and the objective behavior of state bodies, directly affect the activities of mining companies. I have to admit that while this is not always the case, ”said Sergey Glazunov, CEO of the Smart Energy group of companies.

Recall, on the website of the State Service of Geology and Subsoil of Ukraine, Order No. 76 of 03/11/2019 was issued on suspending the special permit No. 5626 for the use of the subsoil of the Vasyshivka gas condensate field. The owner of this permit is LLC Prom-EnergoProdukt, which operates in the Kharkiv region and is owned by the British public company Regal Petroleum (Included in Smart Energy). In turn, the Smart Energy group believes that there are no violations in the activities of an asset of a British company, which could be the basis for suspending a special permit. At the same time, the unreasonable actions of Derzhgeonadr affected the financial sustainability of Regal Petroleum and could damage the overall investment climate in Ukraine.
reference
Smart Energy Group of Companies is a part of Smart Holding, implementing projects in the field of
exploration and development of hydrocarbon deposits.
The oil and gas sector of Smart Energy is represented by the gas producer Ukrgasdobycha
(Kharkiv region) and the British public company Regal Petroleum with assets in Poltava
Oblast (Representative Office of Regal Petroleum Corporation Limited) and Kharkiv Oblast (the company
“Prom-Energo Product”).

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