Led by $2.59bn asset transaction with BP Exploration (Epsilon), Middle East and Africa’s oil & gas industry saw a drop of 32.92% in deal activity during Q1 2021, when compared to the last four-quarter average, according to GlobalData’s deals database.
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A total of 27 deals worth $4.81bn were announced for the region during Q1 2021, against the last four-quarter average of 40.25 deals.
Of all the deal types, M&A saw most activity in Q1 2021 with 27 deals, representing a 100% share for the region.
In terms of value of deals, M&A was the leading category in Middle East and Africa’s oil & gas industry with $4.81bn.
Middle East and Africa oil & gas industry deals in Q1 2021: Top deals
The top five oil & gas deals accounted for a 94.9% share of the overall value during Q1 2021.
The combined value of the top five deals stood at $4.56bn, against the overall value of $4.81bn recorded for the quarter.
The top five oil & gas industry deals of Q1 2021 tracked by GlobalData were:
1) PTTEP Mena’s $2.59bn asset transaction with BP Exploration (Epsilon)
2) The $926m asset transaction with Shell Austria and Shell Egypt by Capricorn Egypt and Cheiron Holdings Egypt
3) Heirs Holdings and Transnational Corporation of Nigeria’s $802m asset transaction with Eni, Shell Petroleum Developmentof Nigeria Ltd and Total E&P Nigeria
4) The $132.13m asset transaction deal with Team Tankers Deep Sea by Torm
5) Panoro Energy’s acquisition of Tullow Equatorial Guinea for $110m.
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.