United Energy Group
Chinese oil and gas company
From Wikipedia, the free encyclopedia
The United Energy Group (UEG) (SEHK: 467) is a Chinese oil & gas exploration and production company. The company pursues projects in Pakistan and Indonesia and is looking into further investment options in South East Asia and the Americas.
| Industry | Oil & gas |
|---|---|
Number of locations | China, Pakistan, Iraq, Egypt, Dubai |
| Website | uegl |
Corporate affairs
China
The company undertook a joint venture with the China National Petroleum Company to develop the Liaohe EOR Project in Liaoning, China until it announced termination of the project in 2016.[3]
Pakistan
In 2012, UEP secured a credit line of $5 billion from China Development Bank for its Pakistani operations and other potential acquisitions.
In March 2018, UEP acquired OMV Pakistan assets for US$192 million.[4]
In FY2019, United Energy Pakistan was the largest foreign oil and gas exploration and production company in Pakistan.
