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United Energy Pakistan

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(Redirected from OMV Pakistan) Oil and gas company in Pakistan
United Energy Pakistan
FormerlyBP Pakistan
HeadquartersIslamabad, Pakistan
ParentUnited Energy Group
SubsidiariesAsia Resources Oil Limited
BowEnergy Resources (Pakistan) SRL
United Energy Pakistan Holdings Limited
United Energy Pakistan Limited
Websiteuep.com.pk

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.

History

In 2007, Occidental Petroleum exited Pakistan and solds its assets to BP Pakistan.

In 2011, United Energy Group acquired the Pakistani assets of BP and BP Pakistan was renamed as UEP. A year later, 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. Previously, OMV had acquired Petronas' gas fields in Pakistan when it decided to exit Pakistan in 2010.

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.

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

  1. Davis, Jonathan (April 23, 2007). "Oxy swaps Pakistani assets for BP pipes". Upstream Online.
  2. BP agrees to sell upstream interests in Pakistan to United Energy Group BP 14 December 2010
  3. Newspaper, the (December 14, 2010). "BP sells Pakistan assets to UEG for $775 million". Dawn.
  4. Baloch, Farooq (March 1, 2018). "OMV Pakistan divests upstream business to United Energy for $192 million".
  5. "Petronas to withdraw from operations in Pakistan". Upstream. September 24, 2010.
  6. "OMV takes over Petronas' Pakistan operations". The Express Tribune. September 21, 2010.
  7. Naqvi, Hassan (22 February 2020). "100 companies responsible for Pakistan's 40pc exports". Profit by Pakistan Today. Retrieved 20 May 2020.
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