Total oil & gas industry M&A deals worth $3.02bn were announced in Europe in February 2021, led by NEO Energy’s $1.3bn asset transaction with Exxon Mobil, according to GlobalData’s deals database.

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The value marked an increase of 68.7% over the previous month of $1.79bn and a rise of 2.4% when compared with the last 12-month average of $2.95bn.

Europe held a 12.18% share of the global oil & gas industry M&A deal value that totalled $24.79bn in February 2021. With an 11.05% share and deals worth $2.74bn, the UK was the top country in Europe’s M&A deal value across oil & gas industry.

In terms of M&A deal activity, Europe recorded 26 deals during February 2021, marking a decrease of 7.14% over the previous month and a drop of 25.71% over the 12-month average. The UK recorded 13 deals during the month.

Europe oil & gas industry M&A deals in February 2021: Top deals

The top five oil & gas industry M&A deals accounted for 96.03% of the overall value during February 2021.

The combined value of the top five oil & gas deals stood at $2.9bn, against the overall value of $3.02bn recorded for the month.

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

1) NEO Energy’s $1.3bn asset transaction with Exxon Mobil

2) The $1.02bn asset transaction with ASDA Group by EG Group

3) EnQuest’s $375m acquisition of North Sea (Golden Eagle) Resources

4) The $187.85m asset transaction with TietoEVRY by Aucerna

5) PetroNor E&P’s asset transaction with Hemla Africa Holding for $18m.