UEG 2023 1Q Performance Review Successfully Held

On April 24th and 26th,2023, United Energy Group (UEG) successfully held 2023 1Q Performance Review and QPR for the first quarter in the form of virtual conference at its Beijing HQ, HK office and other offices. Chairman, Zhang Hongwei, management team from Beijing HQ, expatriates and asset presidents attended the meetings.

QPR meeting for the first quarter was held on April 26th. Asset teams gave a detailed presentation on each asset’s production, operation and achievements in the first quarter while analyzing risks and challenges confronted in the next three quarters as well as working plan and responding measures. Management team of Beijing HQ made comments and reports on the current internal and external situations from their own professional perspectives accordingly. Meanwhile, they also made detailed plans for the work going forward in the rest of the year. The group has made a good start with Pakistan, Iraq and Egypt asset reaching targets on the whole, laying a solid foundation for the fulfillment of the year-long targets.

Chairman Zhang Hongwei confirmed everyone’s achievement in the first quarter and expressed his appreciation for the hard and diligent work of Beijing HQ and each asset. He listened carefully to each asset’s analysis of their situation and proposed guidance for the long-term development. Going forward, UEG will keep involving deeply in the oil and gas sector, maintain stable operation and stimulate potentials in the mature areas with its excellent technological capacities, striving for even greater exploration breakthroughs; on the other hand, it will actively explore quality new projects in oil & gas and renewable energy sectors to enrich its asset portfolio. He also said, UEG has established an excellent team after more than 10 years of development. UEG will realize all its 2023 targets, stable growth and sustainable development through cooperation and coordination between Beijing HQ and asset companies.