Total Oil & gas industry M&A deals worth $2.16bn were announced in Asia-Pacific in February 2021, led by Engineers India, Government of Assam and Oil India’s $1.34bn acquisition of Numaligarh Refinery, according to GlobalData’s deals database.

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The value marked an increase of 376.8% over the previous month of $453.96m and a drop of 69.5% when compared with the last 12-month average of $7.07bn.

Asia-Pacific held an 8.71% share of the global oil & gas industry M&A deal value that totalled $24.79bn in February 2021. With a 6.82% share and deals worth $1.69bn, India was the top country in Asia-Pacific’s M&A deal value across oil & gas industry.

In terms of M&A deal activity, Asia-Pacific recorded 23 deals during February 2021, marking a decrease of 8.00% over the previous month and a drop of 42.50% over the 12-month average. India recorded six deals during the month.

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Asia-Pacific oil & gas industry M&A deals in February 2021: Top deals

The top five oil & gas industry M&A deals accounted for 86.3% of the overall value during February 2021.

The combined value of the top five oil & gas deals stood at $1.86bn, against the overall value of $2.16bn recorded for the month.

The top five oil & gas industry M&A deals of February 2021 tracked by GlobalData were:

1) Engineers India, Government of Assam and Oil India’s $1.34bn acquisition of Numaligarh Refinery

2) The $280m asset transaction with Zuari Agro Chemicals by Paradeep Phosphates

3) CSSC Hong Kong Shipping’s $145.6m asset transaction with Navig8 Chemical Tankers

4) The $51.08m asset transaction with Shandong Gaomi Gaoyuan Chemical by Vosges Holding Group

5) NGM Energy’s acquisition of Suez Fuzeyya And Suez Vasilis Tankers for $50m.