Thai upstream player PTT Exploration and Production (PTTEP) plans to keep acquiring new production assets in the Middle East and Southeast Asia to boost reserves and bolster sales.
Bass Oil is seeking Australian upstream acquisition opportunities, which are largely being ignored by the market amid the energy transition, to complement its increased activities in Indonesia.
Innovation will be increasingly important to companies trying to do deals in the North Sea once prices start to rebound, CMS’ managing partner in Aberdeen, Norman Wisely, has said.
A new North Sea firm, created by the former bosses of Faroe Petroleum, has announced it is evaluating "a number" of potential acquisition targets.
RockRose Energy has announced it will press on with the hunt for more North Sea acquisitions this year.
Mega deals came back into fashion in the City last year, with chief executives becoming more confident as the drama of the financial crisis faded into the background. Mergers and acquisition activity involving UK firms jumped almost 63% to $565billion, a 15-year high involving 3,385 deals, according to data firm Dealogic. The biggest of these acquisitions saw London-listed Peroni and Grolsch group SABMiller bought by Budweiser brewer Anheuser-Busch InBev for £71 billion in a deal finalised last month.
Total's chief executive said oil majors are well positioned to grow during the oil price downturn but should "be patient" when it comes to mergers and acquisitions. Patrick Pouyanne made the comments after it was revealed Anadarko had become the latest company to launch a takeover bid for Apache, following in the steps of Shell and BG and Halliburton and Baker Hughes.