Middle East and Africa’s oil & gas industry sees a drop of 2.7% in deal activity in Q3 2020

2 November 2020 (Last Updated November 2nd, 2020 18:02)

Middle East and Africa’s oil & gas industry sees a drop of 2.7% in deal activity in Q3 2020

Middle East and Africa’s oil & gas industry saw a drop of 2.7% in overall deal activity during Q3 2020, when compared to the four-quarter average, according to GlobalData’s deals database.

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A total of 36 deals worth $1.79bn were announced for the region during Q3 2020, against the last four-quarter average of 37 deals.

Of all the deal types, M&A saw most activity in Q3 2020 with 34, representing a 94.4% share for the region.

In second place was private equity with one deals, followed by venture financing deals with one transactions, respectively capturing a 2.8% and 2.8% share of the overall deal activity for the quarter.

In terms of value of deals, M&A was the leading category in Middle East and Africa’s oil & gas industry with $1.35bn, while venture financing and private equity deals totalled $300m and $132.04m, respectively.

Middle East and Africa oil & gas industry deals in Q3 2020: Top deals

The top five oil & gas deals accounted for 77.4% of the overall value during Q3 2020.

The combined value of the top five oil & gas deals stood at $1.38bn, against the overall value of $1.79bn recorded for the quarter.

The top five oil & gas industry deals of Q3 2020 tracked by GlobalData were:

1) Woodside Energy Senegal’s $400m asset transaction with Cairn Energy

2) The $350m asset transaction with Total Gabon SA by Perenco Oil & Gas Gabon

3) U.S. International Development Finance’s $300m venture financing of PetroTel Oman

4) The $200m asset transaction with Kosmos Energy by Royal Dutch Shell

5) Arbel Fund’s private equity deal with Delek Israel Fuel for $132.04m.

Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.