Mayer Brown advises United Energy Group on acquisition of energy assets in Egypt
The acquisition marks another milestone in UEG’s growth strategy, strengthening its upstream oil and gas portfolio, and expanding its presence in Egypt’s Western Desert — an area of strategic importance and long-term potential. Through the acquisition, UEG holds interests in several production and exploration concessions in Egypt’s Western Desert, operated in partnership with leading international energy companies.
Following the completion of this transaction, UEG’s total operated and non-operated portfolio in Egypt will reach an aggregate gross production exceeding 39,000 barrels of oil equivalent per day (boe/d), sourced from multiple mature and emerging fields. This acquisition significantly strengthens UEG’s position as a key upstream player in Egypt, building on its existing track record of safe and efficient operations through its local subsidiaries. The expanded portfolio includes both high-quality producing assets that ensure steady cash flow and promising exploration acreage offering substantial growth potential that will be unlocked through strategic investment, advanced technology, and operational excellence.
The acquisition was partly funded by a syndicated, secured acquisition facility with reserve-based lending features.
UEG has commented on the Mayer Brown team, “This successful closing truly highlights Mayer Brown’s strength as a global law firm seamlessly coordinating across Hong Kong, London, Singapore, Dubai, and New York, and combining expertise in M&A, finance, and other disciplines to support a complex international transaction”.
Joanne Du, Hong Kong partner, commented: “Mayer Brown is honoured to have acted as the lead counsel in connection with this significant transaction for UEG in Egypt’s upstream oil and gas sector. This achievement reflects the strength of our multidisciplinary team, the depth of our industry expertise, and our unwavering commitment to supporting our client in navigating complex, high-value matters. We were privileged to work alongside the UEG team throughout this process and are proud to have contributed to bringing this milestone to a successful close.”
The Mayer Brown team supported UEG’s internal legal team, Leslie Zhang, Yang Liu, Jane Hu and other UEG in-house counsels.
The Mayer Brown team was led by partners Joanne Du (Corporate, Hong Kong), Bob Palmer (Corporate, London), Ashley McDermott (Finance, Dubai), Janelene Chen (Finance, Singapore), Yu-Jin Tay (Arbitration, Singapore), and supported by James England (Senior Associate, London), Evelyn Lok (Counsel, Hong Kong), Charles Tay (Senior Associate, Singapore).
