United Energy Group
United Energy Group Limited (UEG) is a leading independent exploration and production (E&P) company listed on the Hong Kong Stock Exchange. The company’s headquarter is located in Hong Kong and it has subsidiaries in China, Dubai, Egypt, Iraq and Pakistan.
Within less than a decade, UEG has established itself as a reputed international energy company. The Group has a history of making strategic investments that result in rapid growth. Our success story in Pakistan illustrates this example well.
After acquiring oil major BP’s upstream asset in Pakistan, in 2011, we made significant investments in the Pakistan business resulting in a substantial increase in both production and reserves. We also acquired new businesses in the country.
In 2018, we also made a foray in the Middle East energy sector when we signed the Development and Production Contract for the Sindbad oil field in Iraq. In March 2019 we acquired Kuwait Energy plc (KE). KE has significant operations in the Middle East and North Africa (MENA) region. UEG aims to further develop the potential of KE’s assets and replicate the success the Group has had in Pakistan.
Today, UEG has grown into a medium size international oil and gas company with more than 2,000 employees working at its offices and field facilities, in the MENA and Asia region. UEG’s Leadership is highly experienced and has honed their skills during their rich careers with large state-owned enterprises and oil majors.
Amongst the many honors for the Group:
- In January 2018, UEG was recognized at the “2017 China Financial Market Awards” organized by “China Financial Market”, a well-regarded financial magazine in Hong Kong.
- In November 2018, UEG was honored with the “The Listed Enterprise Excellence Awards 2018 -Excellent Performance” by “Capital Weekly”, a renowned financial magazine in Hong Kong.
- In January 2019, UEG was recognized for doubling its market value within a short span of one year, despite a bearish trend in most equity markets – “Top Market Value among 500 Listed Companies in China”. This achievement was based on the market value data of 15 renowned stock exchanges.
Moreover, in February 2019, the Group joined the “Hang Seng Composite Large Cap & Mid Cap Index”. This prestigious achievement highlights the recognition by the capital market of UEG’s fast and efficient growth.
Looking to the future, UEG aims to further develop its exploration and production businesses and explore other cross-segment energy opportunities. UEG is also actively seeking high quality international upstream merger and acquisition opportunities to further diversify its portfolio.
To learn more about UEG, please visit http://uegl.com.hk/