Pertamina agrees to buy interests in three Algerian oil and gas fields
The transaction covers Moeve’s stakes in the Berkine Basin, with completion still subject to approvals from Algerian authorities.
Indonesia’s PT Pertamina (Persero), through PT Pertamina Algeria EP (PAEP), has agreed to acquire Moeve’s interests in three onshore hydrocarbon fields in Algeria. The transaction has not yet been completed, with steps including approval from the relevant Algerian authorities still pending.
The assets are Rhourde el Khrouf (RKF), Bir el Msana (BMS) and Ourhoud (ORD), all in the Berkine Basin. PAEP entered the agreement with Cepsa Algérie, S.L.U. and Cepsa (Rhourde El Rouni), S.L.U., subsidiaries of Spanish integrated energy company Moeve.
Pertamina president director Simon Aloysius Mantiri said the expansion was intended to strengthen Indonesia’s energy security and broaden the group’s international upstream oil and gas holdings. Pertamina said the investment was also aimed at developing production potential from overseas assets to support increased oil and gas supplies for Indonesia.
PAEP has managed Pertamina’s Algerian upstream operations and investments since 2012. It is a subsidiary of PT Pertamina Internasional EP (PIEP), within the upstream subholding headed by PT Pertamina Hulu Energi (PHE).
