Pertamina acquires interests in 3 Algerian oil and gas fields
The Berkine Basin deal still awaits Algerian regulatory approval, and the value has not been disclosed.
PT Pertamina (Persero), through its affiliate PT Pertamina Algeria EP, has agreed to acquire Moeve's participation rights in three onshore hydrocarbon fields in Algeria's Berkine Basin. The assets covered by the deal are Rhourde el Khrouf, Bir el Msana, and Ourhoud. The transaction was carried out with two Moeve subsidiaries, Cepsa Algérie, S.L.U. and Cepsa (Rhourde El Rouni), S.L.U. Completion is still under way, including approval from Algerian authorities. Pertamina said the move is part of efforts to strengthen its international upstream oil and gas portfolio and its Bring the Barrel Home strategy to support Indonesia's energy supply. PAEP has managed Pertamina's upstream operations in Algeria since 2012 and has invested with Sonatrach.