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

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.

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.