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Virtual Edition
16 - 17 June 2021

Source: World Pipelines

By Elizabeth Corner

 

Led by Energean’s US$405 million acquisition of Energean Israel, Middle East and Africa’s oil and gas industry saw a rise of 6.45% in cross border deal activity during 4Q20, when compared to the last four-quarter average, according to GlobalData’s deals database.

A total of 33 cross border deals worth US$1.69 billion were announced for the region during 4Q20, against the last four-quarter average of 31 deals.

Of all the deal types, M&A saw most activity in 4Q20 with 32, representing a 96.9% share for the region.

In second place was private equity with one deal capturing a 3.03% of the overall cross border deal activity for the quarter.

In terms of value of cross border deals, M&A was the leading category in Israel’s oil and gas industry with US$1.44 billion, followed by private equity deals totalled US$30 million.

Top deals

The top five oil and gas cross border deals accounted for a 78.2% share of the overall value during 4Q20.

The combined value of the top five cross border deals stood at US$1.32 billion, against the overall value of US$1.69 billion recorded for the quarter.

The top five oil and gas industry cross border deals of 4Q20 tracked by GlobalData were:

  • Energean’s US$405 million acquisition of Energean Israel.
  • The US$348 million acquisition of Ham-Let (Israel-Canada) by Ultra Clean Holdings.
  • IPR Energy Resources’ US$236 million asset transaction with Dana Gas.
  • The US$166.58 million asset transaction deal with FAR Holdings one and FAR Senegal RSSD by Woodside Petroleum.
  • Rovensa’s acquisition of Oro Agri SA and Oro Agri SEZC for US$165 million.