Smart Energy increased gas production by 8.6%, to 400.6 mcm in 2020

Smart Energy Group increased its total natural gas production to 400.6 mcm in 2020, compared to 368.8 mcm in 2019. The volume of condensate production also increased and amounted to 34.7 thousand tonnes against 33.1 thousand tonnes in 2019. This is reported by the Company's press service.

According to the report Smart Energy Group:

•  increased total gas production by 8.6%, condensate – by 4.8%,
•  drilled one new well,
•  completed two CWOs,
•  installed two new compressors,
•  received extensions of two special permits,
•  became the owner of a new special permit for the development of the Svistunkivsko-Chervonolutske field through the acquisition of Arcona Gas-Energia LLC.

“Last year turned out to be rather difficult and not only for the industry, but for all of us in general. Due to our numerous safety measures and high professionalism of our team, Smart Energy Group has not experienced any significant impact so far. We continued to increase production volumes and execute our projects. Nevertheless, we have pretty restrained expectations regarding a new year as lower gas prices and the global economic crisis, strengthened with pandemic COVID-19, will have their impact on gas production,” comments Sergii Glazunov, CEO of Smart Energy Group.