Moeve has agreed to sell its entire interests in three non-operated onshore oilfields in Algeria's Berkine Basin to Indonesia's state energy company Pertamina, the Spanish group said on 4 November 2026. Financial terms were not disclosed.
Why PT Pertamina (Persero) (via PT Pertamina Algeria Eksplorasi Produksi) is buying Moeve's entire interests in the Rhourde el Khrouf, Bir el Msana and Ourhoud fields, Berkine Basin, Algeria
Moeve said it remains committed to Algeria through renewable energy, green hydrogen and other energy-transition, petrochemical and commercial opportunities with Sonatrach. For Pertamina, the Algerian unit PAEP, which has managed its upstream investments in the country since 2014, said the deal strengthens its international upstream portfolio.
Deal terms and financing
Moeve's wholly controlled affiliates Cepsa Algérie and Cepsa (Rhourde El Rouni) will transfer their interests in Rhourde el Khrouf (RKF), Bir el Msana (BMS) and Ourhoud (ORD) to PT Pertamina Algeria Eksplorasi Produksi. No price was given. Reuters, via DealStreetAsia, reported that Moeve has also agreed to sell a minority stake in the Timimoun gas field, which was not part of the statement.
Regulatory approvals and timing
Completion of the transfer of each asset is subject to customary conditions, including approvals from the relevant Algerian authorities.
Market context
Moeve, owned about 62% by Mubadala and 38% by Carlyle, rebranded from Cepsa in 2024 and has sold oil production assets in Abu Dhabi and South America as it shifts towards green hydrogen and biofuels under an €8bn investment plan. It keeps its Spanish refining assets.
