UEG 2022 2Q & 1H Performance Review Successfully Held
From 25th to 27th July , United Energy Group (UEG) held performance review for the 2nd quarter and 1st half of 2022 in form of video conference. Chairman Zhang Hongwei, UEG Executive leadership team，HQ advisors and asset management teams attended the meetings.
The Quarterly Performance Review (QPR) meeting was held on July 27th. Each asset team summarized their work achievements and analyzed the risks and challenges they confronted in the first half of 2022. The management team commented on the reports of asset teams, reported on current challenges as well as mitigation plans for the Group from their own professional perspectives and deployed the work in the coming quarters.
According to the meeting, Pakistan, Iraq and Egypt made fruitful achievements in production, operation and management in the first half of the year, exceeding all set targets and made clear and thoroughly analysis on the situation and challenges which laid a solid foundation for reaching all annual goals.
Chairman Zhang Hongwei highly appreciated the excellent performance of all teams and emphasized that the favorable performance was achieved under the joint efforts of both headquarter and asset teams. He thanked all employees for their hard and diligent works and gave instructions for further development: at present, there are widespread risks of economic downturn, political instability and COVID-19 pandemic, which will last for a long time. To this end, we should, on the one hand, make preparations to respond, put all our efforts to ensure HSSE management and pandemic prevention, and to maintain the stability of production and operation. On the other hand, we should look at the positive side of "crisis", and keep sustainable development through cultivating opportunities hidden in “crisis”. While ensuring the fulfillment of annual objectives, all asset teams should continue to strengthen the development of new projects in the oil & gas field and to strive for opportunities to acquire high-quality assets economically . Meanwhile, the group will also focus on clean energy projects and make active efforts to transfer to a comprehensive energy company that covers both oil & gas and renewable energy businesses. In the rest of 2022, he hopes that all employees could continue to maintain the good momentum of the first half of 2022, ensure the smooth realizations of the annual goals, and seize opportunities to make far more achievements.