MENA Q3 2023 M&A Quarterly | Deal-making slows after post-Covid highs, will activity bounce back?
October 17, 2023
M&A within the MENA region slowed during Q3 2023 following strong quarters post-Covid. There were just two transactions, the largest being OQ’s US$1.4 billion divestment of a 40% stake in Block 60 in Oman to MedcoEnergi. Despite a slowdown in activity, the outlook for deal-making remains strong with the Majors focusing on increasing gas production while independents seek smaller oil and gas opportunities.