Oil and gas company in Pakistan
United Energy Pakistan (UEP), formerly known as BP Pakistan, is a subsidiary of Chinese United Energy Group in Pakistan with a footprint in Sindh province of Pakistan, around 100 km to the east of Karachi. United Energy Group had acquired the Pakistani assets from BP in September 2011 and BP Pakistan thus became UEP.[1][2]
History
In 2007, Occidental Petroleum exited Pakistan and solds its assets to BP Pakistan.[3]
In 2012, UEP secured a credit line of $5 billion from China Development Bank for its Pakistani operations and other potential acquisitions.
In March 2018, UEP acquired OMV's gas fields in Pakistan for US$192 million.[4] Previously, OMV had acquired Petronas' gas fields in Pakistan when it decided to exit Pakistan in 2010.[5][6]
In 2019, United Energy Pakistan was the largest foreign oil and gas exploration and production company in Pakistan, and remained 9th on the list with exports worth $227 million.[7]
Gas fields
UEP gas fields cover Badin, Tando Muhammad Khan, Tando Allahyar, Thatta, Hyderabad (rural), Matiari, Sanghar, Mirpur Khas and khairpur of the Sindh province. Currently, there are active production and exploration blocks in Sindh province and four offshore exploration blocks in the Arabian Sea. The company also won bids for two new exploration blocks, Digri and Sanghar South, which lie adjacent to UEP's Mirpur Khas Khipro concession areas.
References
