UEG 2024 Q3 QPR SUCCESSFULLY HELD
On October 29th and 31st, United Energy Group (UEG) held a virtual Q3 performance review, connecting participants from Dubai, Hong Kong, Beijing, and various asset company locations. The meetings were attended by Chairman Zhang Hongwei, UEG's Executive Leadership Team, headquarters advisors, and asset management teams.
The Q3 performance review was held on October 29th. About 52 employees, including expatriates, from the Beijing headquarters delivered impressive reports summarizing and evaluating their work in the third quarter of 2024 and outlining plans and prospects for the fourth quarter.
On October 31st, the Quarterly Performance Review (QPR) meeting took place. Each asset team presented its accomplishments and analyzed the risks and challenges encountered during the third quarter of 2024. The management team provided feedback on the asset team's reports, discussed current challenges, outlined their strategies to tackle them, and shared the work plan for the upcoming quarters.
Mr. Zhang Hongwei, Chairman of UEG, stated, "With the joint efforts of the group and asset teams, indicators for the first three quarters of 2024 have been completed relatively well." He praised the exceptional performance of the headquarters and asset teams while outlining key priorities for the Group. First, he emphasized that while keeping safety at the forefront, all KPIs for 2024 should be met. Full attention must be given to tracking and achieving the three-year targets from 2025 to 2027. This includes maintaining stable production and increasing output in existing blocks, while also boosting exploration efforts and expanding reserve capacity to effectively support the Group's rapid growth goals. Additionally, by establishing a digital center and a procurement center, the Group aims to enhance management capabilities and achieve cost reductions and efficiency improvement. In conclusion, UEG's Chairman encouraged everyone to face challenges head-on, overcome difficulties, and collaborate to achieve the five-year plan goals from 2023 to 2027.