United Energy Pakistan (UEP) is a subsidiary of United Energy Group (UEG). UEG is primarily engaged in the upstream oil and gas business, including exploration, development and production of crude oil and natural gas and the provision of patented technologies in oilfield supporting services in China and Indonesia. The Company has a joint venture partnership with China National Petroleum Company (CNPC) in one of its energy projects in China. UEG is currently evaluating various investment options in South East Asia and the Americas.
The acquisition of these assets is its first venture in Pakistan. UEG is keen to grow its Pakistan business making this a promising move forward for all stakeholders associated with the assets purchased. The backdrop of Pak-China diplomatic ties is another positive, providing UEG a strong relationship advantage with Pakistan.
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