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Smart Energy sees production of gas fall by 0.8%, condensate rise by 4.1% in nine months

KYIV. Oct 12 (Interfax-Ukraine) – Smart Energy in January-September 2021 reduced gas production by 0.8% compared to the same period last year, to 299.9 million cubic meters, the press service of the group said.

In addition, the production of gas condensate by the group’s companies increased by 4.1%, to 27,400 tonnes, the production of liquefied propane-butane increased by 6.7%, to 7,191 tonnes.

"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 stays on the level of 1.1 million cubic meters/day," the report says.

"Smart Energy continues to increase production volumes in Poltava region due to launch of new well No. 25 at Svyrydivske field. Meanwhile, the production is declining at the fields of Kharkiv region of the group because of suspension of one of wells for workover and natural depletion of reservoir energy of productive intervals there," it reads.

"This year Smart Energy has drilled well No. 29, at Svyrydivske field (with the depth of 5,450 meters). Currently its testing is on. Subject to successful testing, production hook-up is expected as soon as possible," the company said.

"In September, the group spudded well No. 31 at the same field. Its target depth is 5,250 meters. Drilling operations are scheduled to be completed by the end of Q1, 2022, and, subject to successful testing, production hook-up is scheduled during Q2, 2022. Well No. 31 is targeting production from the V-21 and V-22 horizons in the Visean formation, which have demonstrated good productivity in an existing nearby well," according to the document.

"In addition, work has commenced on upgrades to the gas processing plant which involve an upgrade of the LPG extraction circuit, an increase to the flow capacity of the plant, and a significant increase to the liquids tank storage capacity. The works are designed to improve overall plant efficiencies, improve the quality of liquids produced and boost recoveries of LPG, while reducing environmental emissions," the group said.