UEG 2021 4Q QPR & FY Performance Review successfully Held
From17th to 20th January 2022, United Energy Group (UEG) successfully held 2021 4Q QPR & FY Performance Review. Chairman Zhang Hongwei, UEG Executive leadership team，and asset management teams participated in the meeting.
The performance review of UEG HQ is held quarterly. And the 2021 FY Performance Review for the fourth quarter was held from 17th to 19th January. More than 100 employees, including HQ department heads, experts, and ordinary staff participated in the report. Each participant made self-assessment, summary, and reflection on the works in 2021 with plans and prospects for the coming works in 2022. Moreover, the participants also actively proposed many valuable suggestions for company development. To conclude, the leadership team expressed their encouragement for all colleagues, wishing that both management quality and performance could witness another leap-up in 2022. And all colleagues should take pragmatic actions and set targets according to actual results.
The 2021 4Q QPR meeting was held on January 20th. HQ and asset teams summarized the performance, achievements and challenges in the past year, with detailed work deployment for 2022 and the next three to five years medium & long-term development.
The meeting highly affirmed the 2021 production and operation performance of HQ and asset teams in Pakistan, Iraq, and Egypt. It is not easy for all asset teams to maintain favourable HSSE performance and stable operation under the COVID-19 pandemic. In the future, all teams shall pay continuous efforts to costs reduction and efficiency increase, so as to ensure the stable and sustainable development of the group.
Chairman Zhang Hongwei sent warm greetings and thanks to frontline employees and appreciated the suggestions proposed by all employees on 2021 4Q QPR & FY Performance Review. He commented on 2021 performance and gave instructions for the medium & long-term development of the Group: Through the past year, the asset teams firmly followed the instruction of HQ and achieved favourable results though hard-earned. Particularly, under the COVID-19 pandemic, Iraq team has kept a record of zero infections for two consecutive years, with outstanding cure rates in Pakistan and Egypt. Hereby, I would like to express my gratitude and encouragement to all of you for your contribution to fighting against the virus and ensuring safe production. For next step, HQ and asset teams should continue to carry out production and operation activities standing on five key aspects —— Reserves Increase, Production Increase, Costs Reduction, Profits Increase and Cash Flow Balance. To be specific, first, we should benefit from technology and management, which will be the principle of the group development in the future. Second, we should pay attention to Delicacy Management. The management team should have strong leadership and executive force. There must be an echo for every single assignment. Third, we should specify responsibilities and quantify working targets. Fourth, we should continue to optimize Motivate and Punishment Mechanism so as to establish an atmosphere of Harmonious, Friendly, Interdependent and Win-win corporate culture. The work for 2022 is ready, I hope we can work together to ensure the fulfilment of annual targets. The Spring Festival is coming, I wish all colleagues and their families a happy Spring Festival and family reunion.