Southeast Asia upstream M&A shifts to strategic entry, $9.6B assets on offer

Rystad Energy reports a structural shift in Southeast Asia's upstream M&A from IOC divestments to strategic acquisitions, with $9.6 billion in assets available through 2027 and $6.7 billion traded in 2025 under this new intent. This marks a departure from 2020-2024 when majors were trimming late-life positions. The trend signals renewed interest in the region's energy assets, potentially affecting supply dynamics and investment flows.