Pertamina Acquires Participation Rights in Three Algerian Oil Fields
Indonesia's state-owned Pertamina, through its subsidiary PAEP, is set to acquire participation rights in three onshore oil and gas fields in Algeria from Moeve. This move underscores Algeria's appeal for international energy investments and strengthens its global partnerships.
PT Pertamina (Persero), Indonesia's state-owned energy company, is proceeding with the acquisition of participation rights in three onshore oil and gas fields located in Algeria's Berkine Basin. The acquisition, conducted through its subsidiary PT Pertamina Algeria EP (PAEP), involves the Rhourde el Khrouf (RKF), Bir el Msana (BMS), and Ourhoud (ORD) fields. These rights were secured from Moeve, specifically through its subsidiaries Cepsa Algérie, S.L.U. and Cepsa (Rhourde El Rouni), S.L.U. The transaction is currently awaiting final approval from Algerian authorities; the specific value and the size of the participation stake have not yet been publicly disclosed.
This expansion builds upon PAEP's established presence in Algeria, where it has managed Pertamina's upstream oil and gas operations and investments since 2012. The company also maintains a cooperative relationship with Algeria's national energy firm, Sonatrach, in the management of existing energy assets. The initiative reflects Pertamina's strategy to enhance its international upstream oil and gas portfolio, while simultaneously reinforcing Algeria's position as an attractive destination for foreign energy investment and partnership.
A high-level delegation from Pertamina, including Deputy CEO Oki Muraza, recently visited Algeria to underscore the strategic importance of this energy collaboration. During meetings with Algeria's hydrocarbon sector regulator ALNAFT, Minister of Hydrocarbons and Mining Mohamed Arkab, and Sonatrach, discussions focused on the continuity of operations, work programs, and opportunities for new joint ventures. Pertamina views its engagement with Algeria as a long-term strategic partnership, committing to sustained operations in existing blocks like 405A and exploring further collaborations that benefit both nations.
