For H1, 2021, Smart Energy Group produced 199 mln m3 of gas

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Smart Energy group announces the production results for H1, 2021.

The companies of the Group produced cumulatively 199.0 mln m3 of gas (0.2% down y-o-y) and 17.8 Ktonnes of condensate (1.2% up y-o-y).

For H1, 2021, Smart Energy also produced 5,058 tonnes of LPG, 12.3% up y-o-y.

Despite the natural depletion of reservoir energy of productive intervals in the fields where Smart Energy companies operate, in the reported period the Group continues to keep production stable*. The average daily rate of gas production particularly is still on the level of 1.1 mln m3/day.

Sergii Glazunov, CEO of Smart Energy Group, commented: “We are keeping our production of natural gas stable, primarily due to our new wells in Poltava region. Taking into account this fact and positive dynamics of price for natural gas, we are planning to spud at least two more new wells in H2 this year.”

At the end of February, in particular, the Representative Office of Regal Petroleum Corporation Limited brought into production a new appraisal well #25 at Svyrydivske field (Poltava oblast). Last year well #54 was launched here as well. That provides production increase in Poltava region for the reported period.

In February the company spudded one more new development well, #29, at Svyrydivske field as well. The target depth is 5,450 metres. Currently the well has reached a depth of approximately 5,250 metres.Drilling operations are ahead of schedule. Subject to successful testing, production hook-up is now expected by the end of Q3 2021.

Arkona Gas-Energy is getting ready to development of Svystunkivsko-Chervonolutske field (Poltava oblast). The company is completing supplementary prospecting and exploration as well as design works. During next two month it is spudding well #4. Start of 3D seismic is planned for Q4 this year as well.

Preparations for upgrade works to the gas processing plant are in progress. The upgrade includes equipment modernization and increase to the liquids tank storage capacity. The works are scheduled to commence in Q4, 2021.

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