UEG Chairman's Message
United Energy Group (UEG) is committed not just to growing its Pakistan business but also to contributing to the progress of the country and its people.
The Group, headquartered in Hong Kong, owns and operates assets in Pakistan, Egypt and Iraq. Over the last decade, UEG has grown rapidly and significantly expanded its footprint.
We invested heavily in our Pakistan subsidiary after acquiring it from oil major BP in 2011. This investment coupled with the expertise of our teams in Pakistan and China resulted in the complete turn-around of the Pakistan assets, which had been facing steep production decline during the 2009 to 2011 period.
Our Pakistan subsidiary has not just grown organically but we have also acquired new businesses in the country. This includes the acquisition of Austrian company OMV’s upstream assets in Pakistan.
We play a significant role in further building the trust and cooperation between Pakistan and China – one of the key reasons behind UEP’s success story has been the successful integration of the culture, technology and management experience of the teams in both countries.
Along with investing in our Pakistan assets, we have expanded our global footprint. In 2019, we acquired Kuwait Energy plc (KE). The KE business includes upstream oil & gas assets in the Middle East and North Africa (MENA) region.
We have achieved all this while remaining mindful of our environmental impact and safety performance. At UEG, we are committed to creating lasting value for all our stakeholders especially our host governments, employees and local communities.
Looking forward, we will continue to increase our investment in Pakistan’s exploration and production sector, along with exploring other avenues to further develop the country’s energy sector.
United Energy Group Limited