With an average of over four transactions announced globally every day in 2012, the oil and gas sector has remained one of the most active sectors for mergers and acquisitions. According to Ernst & Young’s Global Oil and Gas Transactions Review, oil and gas transactions totaled a staggering $ 402 billion in 2012, representing a 19 percent increase compared to 2011 ($ 337 billion). Ninety-two transactions exceeded $ 1 billion in value compared to just 71 in 2011. This was despite a marginal decrease in oil and gas transaction volumes from 1,664 deals in 2011 to 1,616 in 2012.
Middle East transactions remained concentrated on Kurdistan, with four of the five biggest deals concerning assets or operations in the oil-rich region of Iraq. Overall, there were 45 transactions in the MENA region, an increase of 14 percent from 2011. However, the average transaction size decreased from $ 3.6 billion to $2.8 billion.
Read more: http://www.arabnews.com/45-oil-and-gas-transactions-mena-reached-402-billion-2012
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