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UEG Profile

A High Growth Upstream Energy Company listed in Hong Kong

United Energy Group Limited is a leading international energy company listed on the Hong Kong Stock Exchange.

In a short time, UEG has established itself as a reputed international energy company with oil, gas and renewable energy assets across the globe. The company’s headquarter is in Hong Kong, with subsidiaries in China, UAE, Pakistan, Iraq and Egypt. UEG has a diverse team of over 1,900 highly professional and dedicated employees.

A fast-growing upstream energy company, UEG has witnessed tremendous growth. The Group’s average daily gross production was 165,883 boed and annual gross production was 60.55m mboe (December 31st 2022).

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Focus on the Acquisition & Investment in Oil & Gas Fields

UEG has a history of making strategic investments that result in rapid growth. Our success story in Pakistan illustrates this example well:

  • In September 2011, acquired oil major BP’s upstream asset in Pakistan, for a total consideration of approximately US$ 750 million.
  • In April 2012, UEG obtained the license for a 99 MW Wind Power Project in Pakistan’s Jhimpir Wind Corridor. The project was one of the 14 top-priority, early-harvest projects of the China-Pakistan Economic Corridor (CPEC).
  • In August 2017, acquired 50% interests of KOTRI NORTH block in Pakistan.
  • In April 2018, UEG acquired the upstream assets of Asia Resources Oil Limited (AROL) in Pakistan for a transaction value of approximately US$ 75.66 million.
  • In June 2018, acquired the upstream assets of OMV Group in Pakistan, for a transaction value of approximately EURO€ 158 million.
  • In June 2018, initialed the Development and Production Contract for the Sindbad oil field in Iraq.
  • In March 2019, acquired Kuwait Energy plc (KEC) which has significant operations in the Middle East and North Africa (MENA) region, for a transaction value of approximately US$1 billion.

Apart from acquisitions, UEG has also invested heavily in Pakistan and introduced Chinese oil and gas expertise and supply chain management, resulting in the complete turn-around of the Pakistan business, which was facing a steep production decline from 2009 to 2011. Following the acquisition by UEG, over the next five years, the Pakistan subsidiary achieved 25% year-on-year production growth. Today, United Energy Pakistan (UEP) stands tall as Pakistan's largest foreign oil and gas company. With the successful M&A of Kuwait Energy, UEG has also turned its role into high growth international energy group.

UEG’s successful experience in acquisitions demonstrates the strong expertise of the UEG Board and the Group’s capability to seize promising opportunities.

Strong Performance and Stellar Reputation

On the way to becoming a top independent operator in the Chinese oil and gas sector, UEG has achieved many milestones and won several reputed awards. Amongst the many honors for the Group:

  • In November 2013, UEG was recognized as a "2013 Top 100 Hong Kong Listed Company" and ranked in third place in the list of "Top 10 Companies for Revenue Growth”.
  • 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. UEG received the “Best Investment Value Award” and the “Best Investment Value Award in Shenzhen – Hong Kong Stock Connect”.
  • 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. The “Top Market Value among 500 Listed Companies in China” Award was based on the market value data of 15 renowned stock exchanges, including the Shanghai Exchange, Shenzhen Exchange, Hong Kong Exchange, New York Exchange, etc.
  • In February 2019, joined the “Hang Seng Composite Large Cap & Mid Cap Index”.
  • In May 2019, awarded the "No. 21 of Top 100 Comprehensive Ability", "No. 4 of High Potential" and "No.1 of Top 10 ROI" for 7th Top 100 Companies listed in HK Stock
  • • In June 2019, UEG was recognized as a “Listed Company of Greatest Potential” at the "2019 China Financial Market Awards Ceremony".

These honors showcase UEG’s stellar reputation in capital markets and the Group’s strong performances on market value, stock liquidity, operations, finance and other indexes.

Looking to the Future

Looking ahead, UEG will leverage its robust portfolio and management expertise to unlock the full potential of its assets. At the same time, UEG will explore promising opportunities for acquisitions and new businesses in South Asia, the MENA regions and beyond. Through this dual focus, UEG will achieve its strategic vision of being a fast-growing, medium-sized international energy group and achieve greater success.

Corporate Strategy

The Group’s business strategy is focused on “Reliable Operations and Rapid Expansion.”

  •  Relationships in China and beyond
  •  Access to capital to secure and fast track development of world class assets
  • Disciplined M&A execution based on strict hurdle criteria
  •  An entrepreneurial culture that attracts and retains high quality talent
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