| United Energy Group | |
| Locations: | China, Pakistan, Iraq, Egypt, Dubai |
| Industry: | Oil & gas |
The United Energy Group (UEG) (HKEX:) 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.
UEG is a Hong Kong listed company but controlled by Zhang Hongwei, a majority shareholder in mainland China, who owns 71.7% of the company.[1] [2]
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]
See main article: United Energy 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, and remained 9th on the list with exports worth $227 million.[5]