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Total oil & gas industry cross border deals worth $1.2bn were announced globally for February 2022, with the $620m acquisition of OCTAL HoldingSAOC being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked a decrease of 44.5% over the previous month of $2.09bn and a drop of 88.1% when compared with the last 12-month average of $9.77bn.

In terms of number of cross border deals, the sector saw a drop of 40.00% with 21 deals in February 2022 when compared to the last 12-month average of 35 deals.

In value terms, Middle East and Africa led the activity with cross border deals worth $623.8m in February 2022.

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By GlobalData

oil & gas industry cross border deals in February 2022: Top deals

The top five cross border deals accounted for 97.4% of the overall value during February 2022.

The combined value of the top five cross border deals stood at $1.13bn, against the overall value of $1.2bn recorded for the month.

The top five oil & gas industry cross border deals of February 2022 tracked by GlobalData were:

1) Alpek SAB de CV $620m acquisition deal with OCTAL HoldingSAOC

2) The $150m private equity of Draslovka Holding by Oaktree Capital Management

3) Saudi Basic Industries $130m acquisition deal for 50% stake in Scientific DesignInc

4) The $116.12m acquisition of LLC BaltTransServis by Globaltrans Investment

5) Aramco OverseasBV $113.2m acquisition deal for 7.4% stake in Cognite