Middle East and Africa’s oil & gas industry saw a rise of 6.45% in cross border deal activity in Q4 2020

3 March 2021 (Last Updated March 3rd, 2021 19:15)

Led by Energean’s $405m acquisition of Energean Israel, Middle East and Africa’s oil & gas industry saw a rise of 6.45% in cross border deal activity during Q4 2020, when compared to the last four-quarter average, according to GlobalData’s deals database.

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A total of 33 cross border deals worth $1.69bn were announced for the region during Q4 2020, against the last four-quarter average of 31 deals.

Of all the deal types, M&A saw most activity in Q4 2020 with 32, representing a 96.9% share for the region.

In second place was private equity with one deal capturing a 3.03% of the overall cross border deal activity for the quarter.

In terms of value of cross border deals, M&A was the leading category in Israel’s oil & gas industry with $1.44bn, followed by private equity deals totalled $30m.

Middle East and Africa oil & gas industry cross border deals in Q4 2020: Top deals

The top five oil & gas cross border deals accounted for a 78.2% share of the overall value during Q4 2020.

The combined value of the top five cross border deals stood at $1.32bn, against the overall value of $1.69bn recorded for the quarter.

The top five oil & gas industry cross border deals of Q4 2020 tracked by GlobalData were:

1) Energean’s $405m acquisition of Energean Israel

2) The $348m acquisition of Ham-Let (Israel-Canada) by Ultra Clean Holdings

3) IPR Energy Resources’ $236m asset transaction with Dana Gas

4) The $166.58m asset transaction deal with FAR Holdings one and FAR Senegal RSSD by Woodside Petroleum

5) Rovensa’s acquisition of Oro Agri SA and Oro Agri SEZC for $165m.

Verdict deals analysis methodology

This analysis considers only announced and completed cross border 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.