“March to New Success Together” United Energy Group Holds the 2019 Q2 Meeting
On 16th July 2019, United Energy Group (UEG or the Group) successfully held the 2019 Q2 Meeting at Hong Kong and Beijing headquarters. The meeting summarized the operation and management works of UEG in the first half of 2019, and proposed the blueprint for future works. The meeting was attended by senior executives of UEG, including Zhang Hongwei, Chairman of the Board, Zhu Junfeng, Chief Executive Officer, and some other management team members from Beijing and each asset worldwide.
The Board of UEG highly appreciated the performance of assets in Pakistan, Iraq, Egypt, etc. in the first half of 2019. Each asset team not only made great achievements in exploration, development, operation and management, but also has a full understanding of current situation as well as clear plans for future works. Especially, within half a year after the acquisition of KEC’ assets, the Group witnessed several milestones, including the first commercial production of Siba, the commerciality of Faihaa Yamama in Block 9, and the MOU with OGDCL.
Zhang Hongwei, Chairman of the Board, commented on the H1 performance and pictured UEG’s strategic plan in the future. He illustrated, “This QPR meeting is meaningful, because we entered new workplace and have new teams from Iraq and Egypt joining us. Facing the new situation, it is essential for us to start at a new point, build up a new corporate image, make new achievements and conquer new challenges, so as to welcome new glories. Therefore, the existing teams and new teams should enhance the communication and cooperation with each other. To make contributions to the new prosperity of UEG, we must try to realize cultural integration, technological integration, market integration, management integration and mechanism innovation, as well as taking respectful, supportive, trustful and caring as our corporate culture. In the following stage, each asset shall maintain good performances on exploration, development and operation, and make scientific plan for the stable increase of various indexes including production, reserves, net profit and cash flow. Meanwhile, more attentions are supposed to be paid to financial risk control and the construction of intelligent information system, which is beneficial for improving operation efficiency and guaranteeing smooth businesses of the group. I believe that we will definitely make greater achievements in the future as long as we keep our corporate spirits ‘Unite, Explore, Pursue and Transcend’ in mind.”
Photo of UEG Field Site
Through the meeting, UEG had a detailed summary of the works in the first half of 2019, an in-depth analysis of current opportunities and challenges and a thorough discussion of the Group’s future. In the following stage, the Group will keep united and firm marching to the target of building up itself a “Fast Growing Medium-sized International Energy Group”.