UEP Naimat Phase V project Put into Operations and in Steady Run

In August 2015, Phase 5 project of UEG Naimat gas processing plant was officially up and running stably, through commissioning and improvement, at 160 MMcfd processing capacity, marking another achievement under the Belt and Road Strategy and China-Pakistan Economic Corridor.

Recently, UEP organized a meeting to wrap up Naimat Phase V project. At the meeting, all attendees looked back on how the Phase V project was built and briefed on how the project is operating after commissioned. Mr. Zhang Hongwei, Chairman of UEG participated in the meeting.

Invested by UEG and contracted by China Petroleum Engineering & Construction Corporation (CPECC) Southwest Company, the Phase V project is proud of its international-level engineering design; the main equipment design of the Phase 5 project was created applying Chinese standards, and these items were fabricated by Chinese manufacturers and exported to Pakistan, where they were installed, commissioned and put into operation. With 1400 jobs opportunities were provided during its construction phase, this project is expected to make significant contributions in alleviating the shortage of energy in Pakistan and boosting local economic development. It also created business opportunities for more than 20 Chinese suppliers to export to overseas markets.

Being the most challenging project that UEG has ever undertaken, Naimat Phase V project is also a project that involves the most enormous amount of work loads and required the highest industry level as well as capital costs.

In achieving another critical milestone in UEG’s investment in the Pakistan energy sector, the Naimat Phase V project used a general contractor integrating design and procurement functions following the successful introduction of Chinese exploration contractors and drilling contractors in this overseas market. UEG synergized high business flexibility and efficiency of a private enterprise with the powerful strengths of state owned industries in technology and human resources, initiating a new model of cooperation between Chinese private entities and large SOEs in overseas markets.

At the meeting, it was noted that in the coming years UEG is still in a period of strategic opportunities to ‘go global’. UEG will continue its business focus under the Belt and Road Initiative and continue working hard to become an active player in international cooperation on production capacity and industry moves as well as to look for expanding the overseas markets for its petroleum and natural gas projects through M & A, investment and trading. Ultimately, UEG expected to be a multinational growth-oriented oil & gas reserves operator that can compete internationally.