Led by Baring Private Equity Asia V Holding (1)’s $1.01bn private equity deal with PI Advanced Materials, Asia-Pacific’s oil & gas industry saw a drop of 20.77% in deal activity during Q2 2022, when compared to the last four-quarter average, according to GlobalData’s deals database.

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A total of 62 deals worth $2.4bn were announced for the region during Q2 2022, against the last four-quarter average of 78.25 deals.

Of all the deal types, M&A saw most activity in Q2 2022 with 55 deals, representing an 88.7% share for the region.

In second place was venture financing with six deals, followed by private equity deals with one transactions, respectively capturing a 9.7% and 1.6% share of the overall deal activity for the quarter.

In terms of value of deals, M&A was the leading category in Asia-Pacific’s oil & gas industry with $1.31bn, while private equity and venture financing deals totalled $1.01bn and $46.32m, respectively.

Asia-Pacific oil & gas industry deals in Q2 2022: Top deals

The top five oil & gas deals accounted for a 72.9% share of the overall value during Q2 2022.

The combined value of the top five deals stood at $1.73bn, against the overall value of $2.4bn recorded for the quarter.

1) Baring Private Equity Asia V Holding (1) $1.01bn private equity deal for 54.1% stake in PI Advanced Materials

2) The $201.04m acquisition of Ocean Sparkle by Adani Ports and Special Economic Zone

3) China BlueChemical $194.78m acquisition deal with CNOOC Orient Petrochemical

4) The $191.58m acquisition of Liaohe Oilfield (Panjin) Gas Storage by Liaohe Petroleum Exploration Bureau

5) Siam Management Holding $127.5m acquisition deal for  50% stake in PTT Global LNG