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According to EY?s Global Oil & Gas Transactions report, the combined number of oil and gas transactions in the UAE, Oman and Iraq represented almost 60 per cent of the total number of upstream transactions in the Middle East. Overall, the actual number of transactions in the region fell 40 per cent from 44 in 2012 to 26 in 2013, whereas the overall transaction value increased from $2.7 billion in 2012 to $3.1 billion in 2013.
Dr. Thorsten Ploss, MENA Oil & Gas Leader, EY, said: ?Rapid-growth markets have been, in recent years, the engine room of the world?s economic growth. This provided oil and gas companies with brighter prospects, attracting them to invest in regions such as the Middle East to supply such growth.?