Europe saw almost $20 billion in new upstream deals agreed in 2023 — leading all regions outside of the United States, according to Evaluate Energy.

A December agreement between Harbour Energy and Wintershall was the highlight, whereby Harbour will acquire substantially all of Wintershall’s upstream assets and European CCS licenses for just over $11 billion.

Canada was the other non-U.S. ‘region’ to see more than $10 billion in new deals. This was driven by TotalEnergies SE’s decision to sells its Surmont oilsands interest to ConocoPhillips and its remaining Canadian business unit to Suncor Energy Inc., as well as two Montney-focused deals by Crescent Point Energy Corp.

*The Middle East has many deals where transaction details are not disclosed.