ALGERIA: Pertamina Acquires Moeve’s Participating Interest in the Berkine Basin

PT Pertamina (Persero), through its Algerian affiliate, PT Pertamina Algeria EP (PAEP), officially entered into an agreement to acquire Moeve’s participating interests in three onshore hydrocarbon fields located in the Berkine Basin, Algeria. The transaction was carried out by PAEP with Cepsa Algérie, SLU, and Cepsa (Rhourde El Rouni), SLU, subsidiaries of Moeve, a Spanish integrated energy company.

The three fields are Rhourde el Khrouf (RKF), Bir el Msana (BMS), and Ourhoud (ORD). The entire transaction completion process is ongoing, including approvals from the relevant authorities in Algeria.

Through this corporate action, Pertamina affirms its commitment to further expanding its contribution to the global energy sector. “This expansion aligns with Pertamina’s commitment to continuously improve national energy security and strengthen its upstream oil and gas business portfolio globally,” said PT Pertamina (Persero) President Director Simon Aloysius Mantiri.

The acquisition of Moeve’s participating interests in three hydrocarbon fields in the Berkine Basin is a strategic move to strengthen Pertamina’s position in managing international upstream oil and gas assets. This step is part of Pertamina Hulu Energi’s (PHE) efforts to strengthen its international asset portfolio and optimize oil and gas production potential through reliable and sustainable operations management.

PAEP is a subsidiary of PT Pertamina Internasional EP (PIEP) which is part of the Pertamina Upstream Subholding led by PT Pertamina Hulu Energi (PHE) as the parent of the upstream subholding. PAEP has managed Pertamina’s upstream oil and gas operations and investments in Algeria since 2012. PAEP plays a strategic role in strengthening Pertamina’s international upstream business and is committed to creating long-term value for the energy sector in Algeria through strategic investments with Sonatrach.

In addition to strengthening its upstream oil and gas business portfolio on the global stage, through this strategic investment, Pertamina is also strengthening the implementation of the Bring the Barrel Home spirit, namely optimizing the production potential of international upstream oil and gas assets to support increased oil and gas supplies for Indonesia.

PT Pertamina Hulu Energi (PHE), as Pertamina’s Upstream Subholding, will continue to invest in sustainable upstream oil and gas operations and business management in accordance with Environmental, Social, and Governance (ESG) principles. PHE also consistently upholds integrity by strengthening a culture of compliance, implementing good corporate governance, and preventing fraud to create a professional, transparent, and ethical work environment.