UEG 2022 4Q&Full-Year Performance Review Successfully Held

United Energy Group (UEG) held a virtual conference for the performance review of the fourth quarter and the whole year of 2022 on Feb 6th ,2023. Our Chairman, Mr. Zhang Hongwei and management team from the Beijing HQ office, expatriates and asset teams participated in the meeting.

Each asset team reported their production and operation in the past year in which they summarized their outcomes and clearly analyzed risks and challenges. The management team commented on the reports of asset teams, assessed current situation confronted by the Group from their own professional perspectives and set the work plan for year 2023. According to the meeting, following Mr. Chairman’s instruction, Beijing HQ and UEG’s assets in Pakistan, Iraq and Egypt have achieved all targets in their respective tasks over the past year while ensuring safe production. It worths to mention that Pakistan asset maintained stable and safe production all year long while proactively assume social responsibilities to work with local government and partners in flood relief efforts. They won wide recognition from all sectors of the society due to their great contribution to the relief efforts.

Mr. Chairman has confirmed everyone’s great achievements in the whole year of 2022 and said that this is the results of the cooperation and coordination between Beijing HQ and asset teams. He also expressed his appreciation to the diligent work and continuous efforts of all UEG members. He gave instruction for our work in the next and coming years, saying that on the one hand, we need to maintain excellent HSSE management and ensure safe production. On basis of that we should work to acquire even more reservoir discoveries through continuous development of mature areas with advanced techniques and technical and research capabilities. On the other, we should also explore more quality projects to enrich our businesses. We should put more efforts to carry out renewable energy projects while keeping the stable growth of traditional oil and gas businesses. We need to develop UEG into an international medium-sized energy company covering traditional oil and gas sector and renewable energy with focus on carbon neutral and carbon credit trading. The year of 2023 is the beginning year of our five-year plan. Beijing HQ, asset companies and new businesses must make sure the implementation of all key works and ensure the achievement of all targets which will lay a solid foundation for our 5-year plan and long-term development. Targets have been set, blueprint has been made, let us work together for a promising future!