Hong Kong’s United Energy Expands Egyptian Oil Footprint with Apex Acquisition
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Salma Hossein
- . February 10, 2025
- . Update: February 10, 2025 5:24 pm
United Energy Group from Hong Kong plans to enter Egypt’s energy market by purchasing Apex International Energy L.P.’s natural gas and oil production operations there. UEG made a major move to strengthen its business in Egypt by buying this energy sector company which now puts UEG among the top ten oil and gas producers in Egypt.
UEG buys all of Apex’s Egyptian oil fields in the Western Desert that produce 11,000 barrels per day from eight separate production sites. UEG will start oil production of 39,000 BOEPD in Egyptian operations in 2024 after purchasing Apex’s entire production setup in the Western Desert.
UEG established its Egyptian business operations in 2019 when the organization acquired Kuwait Energy and received exploration rights to Burg El Arab, Wadi El Natrun, Abu Sennan, and East Ras Qattara blocks. The Egyptian Cabinet granted its approval for the merger of Apex-related concession agreements that delivers better investment opportunities and tax benefits.
As Hong Kong’s largest independent energy business UEG takes this move to enhance its local resources while expanding its worldwide network to South Asia, the Middle East, North Africa, and Europe.
