Sanoat Energetika Guruhi (SEG), Uzbekistan’s largest private oil and gas company, has announced the launch of its new umbrella brand: SANEG.
SANEG combines SEG’s core operations and the Fergana Oil Refinery (Fergana). SEG and Fergana will jointly represent their respective business operations in Uzbekistan, and internationally, under the single banner of SANEG.
From November 2022, SEG’s entire business will operate under the SANEG brand - the next step in realising a vertically-integrated business model for Uzbekistan’s national champion in the oil and gas and petrochemical sectors.
In June 2022, SEG formally acquired the previously state-owned Fergana, committing to invest US$58 million of capital in modernisation. SEG had overseen operations at the facility since 2020.
SANEG will subsume the entire cycle of fuel production - oil production at 103 fields in Uzbekistan, Fergana’s processing capacities, and the sale of various petrochemical products - to domestic and global clients.
The new branding does not affect any existing contractual obligations of SEG or Fergana. Both companies’ full legal names - IP Sanoat Energetika Guruhi LLC and Ferghana Oil Refinery LLC - will remain unchanged. Both companies will continue to fulfil all obligations to customers.
Tulkin Yusupov, Executive Director of SANEG, commented: “The new name and umbrella brand of SANEG reflects the strength of SEG and Fergana in their respective core businesses. However, SANEG will allow us to operate on a different level. The rebranding is integral to the company’s modernisation - indicating the transformation towards a new management model - vertical integration. Both our petrochemical refining and upstream capabilities are being modernised.
“We are also concentrating on attracting international investment. This new approach to our business was the motivating factor behind the creation of SANEG. We want to show a new face to our current and prospective partners - an external brand reflecting the internal values.”