Total oil & gas industry M&A deals worth $12.1bn were announced in Asia-Pacific in Q3 2022, led by NationalKazMunayGas’ $3.8bn acquisition of 50% stake in KMG Kashagan, according to GlobalData’s deals database.

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The value marked an increase of 122.02% over the previous quarter and a rise of 5.5% when compared with the last four-quarter average of $11.47bn.

Asia-Pacific held an 18.77% share of the global oil & gas industry M&A deal value that totalled $64.45bn in Q3 2022. With a 6.83% share and deals worth $4.4bn, China was the top country in Asia-Pacific’s M&A deal value across oil & gas industry.

In terms of deal activity, Asia-Pacific recorded 119 deals during Q3 2022, marking a decrease of 11.85% over the previous quarter and a drop of 4.80% over the last four-quarter average. Marshall Islands recorded 28 deals during the quarter.

Asia-Pacific oil & gas industry M&A deals in Q3 2022: Top deals

The top five oil & gas industry M&A deals accounted for 65.7% of the overall value during Q3 2022.

The combined value of the top five M&A deals stood at $7.95bn, against the overall value of $12.1bn recorded for the quarter.

The top five oil & gas industry deals of Q3 2022 tracked by GlobalData were: 1) NationalKazMunayGas’s $3.8bn acquisition deal for 50% stake in KMG Kashagan 2) The $1.56bn acquisition of 50% stake in Shanghai SECCO Petrochemical by Ineos Group 3) China Oil & Gas Pipeline Network’s $1.27bn acquisition deal for 3.5% stake in National Pipe Network Group United Pipeline 4) The $690.21m acquisition of 49% stake in Hefei Gas Group by China Resources Gas Investment (China) 5) China Petroleum & Chemical’s $631m acquisition deal for 50% stake in INEOS Styrolution Advanced Materials (Ningbo)