The Smart Energy group, which is part of Vadym Novinsky's Smart Holding, announced the resumption of the activities of one of the Kharkiv companies engaged in hydrocarbon extraction. After a break of more than a year, caused by a forced stoppage by the state, the company again started up the wells of the Vasyshchiv field in the Kharkiv region.
According to Smart Energy, the State Geology and Subsoil Service of Ukraine (Derzhgeonadra) issued orders to suspend special permits for hydrocarbon extraction on April 12 and May 4, 2023. Licenses were renewed on June 26, 2024.
As a result of the stoppage of production, the state budget suffered losses in the amount of UAH 1.65 billion due to unpaid taxes and about 195 million cubic meters of gas that was not extracted. Before the shutdown of the company, the group produced an average of 450,000 cubic meters of gas per day. Currently, after the resumption of work, flow rates at the Vasyshchivskoye field have decreased to 25,000 cubic meters of gas per day, which is half of what it was before the shutdown.
Among the reasons for the decrease in productivity is a long downtime, which led to a decrease in the productivity of wells. In addition, in October 2023, one of the gas production facilities of the Ukrgazvydobutok company suffered from an attack by the Russian aggressor, which significantly damaged the equipment of the gas preparation plant. The company currently needs time and investment to restore the damaged equipment.
The oil and gas direction of Smart Energy is represented by Ukrgazvydobutok, which operates in the Kharkiv region, as well as by the public British company Enwell Energy. Enwell Energy's assets carry out their activities in Poltava region and Kharkiv region.
It is worth noting that Vadym Novinsky left the list of beneficiaries of Smart Holding on January 25, 2023, transferring his share to a trust. President Volodymyr Zelenskyy increased sanctions against Novinsky, but Smart Holding assured that he has no beneficial interest in the group and has not controlled its activities since 2013.
