Private equity interest in the oil and gas industry has continued apace since the financial crisis and not suffered as much as others from the increasingly conservative behaviour of buyout firms.

Last year, there were 91 global oil and gas sector buyouts worth $28.5bn compared with 75 worth $10.7bn in 2006. In Europe, private equity oil and gas deals reached $4.8bn, the highest amount since the $7bn recorded in 2008, according to data provider Dealogic.