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United Energy Group ( (HK:0467) ) just unveiled an update.
United Energy Group’s subsidiary, United Energy Upstream DMCC, has signed a Production Enhancement Contract with Uzbekneftegaz JSC for the Gazli region in Uzbekistan. This agreement involves enhancing natural gas and condensate production across 21 gas fields and conducting exploration activities in 10 exploration blocks. The contract, initially set for 15 years with possible extensions, anticipates a production of 57.8 billion cubic meters. The company commits to a minimum investment of US$ 100 million over four years, funded internally, to boost hydrocarbon production and profitability. The project is contingent on fulfilling several conditions, including substantial agreements and governmental approvals, highlighting its strategic significance for United Energy Group’s expansion in Uzbekistan.
The most recent analyst rating on (HK:0467) stock is a Hold with a HK$0.30 price target. To see the full list of analyst forecasts on United Energy Group stock, see the HK:0467 Stock Forecast page.
More about United Energy Group
United Energy Group is one of the largest listed integrated energy companies in Hong Kong, with operations in South Asia, MENA, and Europe. The company focuses on upstream oil and natural gas, clean energy, and energy trading businesses. Uzbekistan is a strategic focus area for the company’s expansion into new markets.
Average Trading Volume: 68,599,057
Technical Sentiment Signal: Buy
Current Market Cap: HK$11.43B
For an in-depth examination of 0467 stock, go to TipRanks’ Overview page.