Posts by Hugo Haynes
Welligence MENA Q1 2025 M&A Quarterly | Two deals struck and one terminated
In Q1 2025, two deals were announced but only one had a published deal consideration. UEG announced a consideration of US$150 million, subject to timing…
Read MoreEgypt Energy Show Rumblings on the Ground | EGYPES 2025 headline is the Egypt-Cyprus gas deal
Welligence recently participated in the Egypt Energy Show (EGYPES) in Cairo. We were delighted to be selected as the official Intelligence Partner for the event…
Read MoreEgypt M&A | United Energy Group acquires Apex International Energy
On 7 February 2025, United Energy Group (UEG) entered into a Sale and Purchase Agreement (SPA) with Apex International Energy (Apex). UEG will fully acquire…
Read MoreMENA Q4 2024 M&A Quarterly | Just one transaction as deal activity remains muted
Only one M&A deal was announced in Q4 2024 in the MENA region. PTTEP is to acquire ENGIE’s interest in the Touat gas fields in…
Read MoreWelligence Norway Licensing | Licence awards return to five-year average in APA 2024
On 14 January 2025, the Norwegian Offshore Directorate (NOD) announced the award of 53 production licences to 20 companies as part of the APA (Awards…
Read MoreWelligence MENA | What do the MENA upstream highlights of 2024 reveal about 2025?
In 2024, oil and condensate production from the region averaged 33 million bbl/d, approximately 32% of global oil supply. OPEC plays a significant role on…
Read MoreWelligence Egypt | ExxonMobil strikes gas offshore Egypt
ExxonMobil’s Nefertari-1 exploration well has struck gas offshore Egypt, according to early reports. No official announcements have been made yet. The well was spud in…
Read MoreWelligence Europe Q4 2024 M&A Report | UK M&A returns, but Norway stays muted
Deal activity in the UK and Norway, which continue to dominate the upstream M&A landscape in Europe, reduced by 38% in 2024 compared to 2023.…
Read MoreAlgeria M&A | PTTEP acquires ENGIE’s interest in the Touat gas fields in Algeria
On 20 December 2024, PTTEP’s acquisition of ENGIE’s stake in the Touat gas project in Algeria was announced. No consideration was revealed. The project is…
Read MoreWelligence North Africa and the East Med Gas | Is the region poised for growth?
Gas focussed exploration and development activity is due to increase with the Majors starting exploration campaigns and making decisions on key gas developments, and the…
Read More