United Energy Group Limited (UEG) announced the successful completion of its acquisition of Apex International Energy Holdings I, following the satisfaction of all conditions precedent under the Sale and Purchase Agreement (SPA). The transaction was completed on 14 October 2025, in accordance with the terms of the SPA.

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.

Commenting on the acquisition, Kamel Alsawi, Regional President- Africa of United Energy Group, said, “Today marks a proud milestone. This is far more than a transaction; it’s a transformative step in our journey to expand United Energy’s footprint in Egypt’s dynamic and promising upstream sector. We are deeply grateful for the trust of our partners, the steadfast support of Egypt’s Ministry of Petroleum and Mineral Resources, and the dedication of every team member who helped bring this vision to life. This milestone reflects our belief that Egypt is a cornerstone for future energy growth, and underscores our belief in Africa’s vast potential as the next frontier for responsible and sustainable energy development, and we are committed to investing in its potential — responsibly, strategically, and for the long term.”