Smart Energy Group began spudding of well No.10 at Vasyschyvske gas condensate field in Kharkiv region.
Target depth of the well is 3450 m (it is targeting reservoirs in the Visean formation). The drilling operations scheduled to be completed in June 2018. Subject to successful testing, production is planned to be achieved during the third quarter of this year.
Prom-Energo Product (part of Smart Energy Group) company is a holder of the special license to develop Vasyschyvske gas condensate field, valid until 2032.
It is to be recalled that in 2017 the companies of Smart Energy Group increased production of natural gas up to 226.3 million cubic meters, which is 8.5% more than in 2016. Also, 18.3 thousand tons of gas condensate and 4.6 thousand tons of LPG was produced of equity production hydrocarbons.
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).