Moeve agrees sale of its Berkine Basin upstream interests to Pertamina
- Sale covers Moeve’s entire interests in three non‑operated Berkine Basin fields: Rhourde el Khrouf (RKF), Bir el Msana (BMS) and Ourhoud (ORD).
- Completion of each asset transfer is subject to customary conditions, including required approvals from relevant Algerian authorities.
- Buyer is PT Pertamina Algeria Eksplorasi Produksi (PAEP), a subsidiary of Pertamina Internasional EP (PIEP) that has managed Pertamina’s upstream operations and investments in Algeria since 2014 and invests alongside Sonatrach.
- Moeve will continue exploring opportunities in Algeria in renewable energy, green hydrogen and derivatives, energy transition projects, and wider industrial, petrochemical and commercial cooperation.
Transaction
Moeve, via its affiliates Cepsa Algérie, S.L.U. and Cepsa (Rhourde El Rouni), S.L.U., has agreed to transfer its entire interests in three non‑operated onshore hydrocarbon fields in the Berkine Basin to PT Pertamina Algeria Eksplorasi Produksi (PAEP).
Assets
The assets covered are Rhourde el Khrouf (RKF), Bir el Msana (BMS) and Ourhoud (ORD).
Conditions and counterpart
Completion of each asset transfer remains subject to customary conditions for such transactions, including required approvals from the relevant Algerian authorities. PAEP is a subsidiary of Pertamina Internasional EP (PIEP) that has managed Pertamina’s upstream operations and investments in Algeria since 2014 and invests alongside Sonatrach.
Strategic direction
Moeve says it will pursue opportunities in Algeria focused on renewable energy, green hydrogen and derivatives, other energy transition initiatives, and broader industrial, petrochemical, chemical and commercial cooperation, building on its collaboration with Sonatrach and shared strategic and decarbonization objectives.
Source: Moeve