Total oil & gas industry M&A deals worth $4.14bn were announced in Europe in March 2021, led by Versicherungskammer Bayern ’s $844m acquisition of Ferngas Netzgesellschaft, according to GlobalData’s deals database.

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The value marked an increase of 37.1% over the previous month of $3.02bn and a rise of 33.1% when compared with the last 12-month average of $3.11bn.

Europe held a 26.80% share of the global oil & gas industry M&A deal value that totalled $15.45bn in March 2021. With a 9.84% share and deals worth $1.52bn, Germany was the top country in Europe’s M&A deal value across oil & gas industry.

In terms of M&A deal activity, Europe recorded 45 deals during March 2021, marking an increase of 55.17% over the previous month and a rise of 28.57% over the 12-month average. The UK recorded 16 deals during the month.

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

The top five oil & gas industry M&A deals accounted for 77.7% of the overall value during March 2021.

The combined value of the top five oil & gas deals stood at $3.22bn, against the overall value of $4.14bn recorded for the month.

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

1) Versicherungskammer Bayern’s $844m acquisition of Ferngas Netzgesellschaft

2) The $673.25m acquisition of Surteco by PKG Schurfeld

3) Neo Energy Upstream ’s $625m acquisition of Zennor Petroleum

4) The $615m acquisition of INEOS E&P Norge by PGNIG Upstream Norway

5) Kistos’ acquisition of Tulip Oil Netherlands for $463.82m.