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  1. Deals Analysis
June 3, 2021

Oil & Gas industry M&A deals total $8.95bn in Europe in Q1 2021

By Nikitha Ladda

Total oil & gas industry M&A deals worth $8.95bn were announced in Europe in Q1 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 a decrease of 44.2% over the previous quarter and a rise of 2.2% when compared with the last four-quarter average of $8.76bn.

Europe held a 14.68% share of the global oil & gas industry M&A deal value that totalled $60.97bn in Q1 2021. With a 7.36% share and deals worth $4.49bn, the UK was the top country in Europe’s M&A deal value across oil & gas industry.

In terms of deal activity, Europe recorded 105 deals during Q1 2021, marking a decrease of 21.05% over the previous quarter and a drop of 1.18% over the last four-quarter average. The UK recorded 38 deals during the quarter.

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Europe oil & gas industry M&A deals in Q1 2021: Top deals

The top five oil & gas industry M&A deals accounted for 49.9% of the overall value during Q1 2021.

The combined value of the top five M&A deals stood at $4.46bn, against the overall value of $8.95bn recorded for the quarter.

The top five oil & gas industry deals of Q1 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) Versicherungskammer Bayern’s $844m acquisition of Ferngas Netzgesellschaft

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

5) Neo Energy Upstream’s acquisition of Zennor Petroleum for $625m.

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