United Energy Group (HKG:0467) expects a net profit attributable to owners between HK$1.40 billion and HK$1.65 billion for 2024, against a net loss of HK$1.71 billion in 2023, a Friday bourse filing said.

The oil and gas exploration and production company attributed the expected turnaround to a "significantly" reduced impairment and dry well write-off amount in 2024 compared with HK$4.39 billion in one-off oil and gas reserve impairment in 2023.