Oil & Gas industry cross border M&A deals total $1.66bn in Middle East and Africa in Q4 2020

3 March 2021 (Last Updated March 3rd, 2021 19:17)

Total oil & gas industry cross border M&A deals worth $1.66bn were announced in Middle East and Africa Q4 2020, led by Energean’s $405m acquisition, according to GlobalData’s deals database.

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The value marked an increase of 43.1% over the previous quarter and a drop of 57% when compared with the last four-quarter average of $3.86bn.

Middle East and Africa held an 8.13% share of the global oil & gas industry cross border M&A deal value that totalled $20.43bn in Q4 2020. With a 3.69% share and deals worth $753m, Israel was the top country in Middle East and Africa’s cross border M&A deal value across oil & gas industry.

In terms of deal activity, Middle East and Africa recorded 32 cross border deals during Q4 2020, marking an increase of 18.52% over the previous quarter and a rise of 3.23% over the last four-quarter average. Liberia recorded 16 deals during the quarter.

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

The top five oil & gas industry cross border M&A deals accounted for 79.6% of the overall value during Q4 2020.

The combined value of the top five cross border M&A deals stood at $1.32bn, against the overall value of $1.66bn 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 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.