Moeve, through its wholly controlled affiliates Cepsa Algérie, S.L.U. and Cepsa (Rhourde El Rouni), S.L.U., has entered into an agreement with PT Pertamina Algeria Eksplorasi Produksi (PAEP) to transfer Moeve’s entire interests in the following non-operated onshore hydrocarbon fields located in the Berkine Basin:
- Rhourde el Khrouf (RKF)
- Bir el Msana (BMS)
- Ourhoud (ORD)
Completion of the transfer of each of the assets remains subject to fulfilment of customary conditions in this type of transactions, including the required approvals from the relevant Algerian authorities.
PAEP is a subsidiary of Pertamina Internasional EP (PIEP), managing Pertamina’s upstream oil and gas operations and investments in Algeria since 2014, plays a strategic role in strengthening Pertamina's International upstream and committed to the long-term value particularly in Algeria energy sector through strategic investments alongside with Sonatrach.
Moeve remains committed to exploring opportunities in Algeria through the development of renewable energy, green hydrogen and its derivatives, other energy transition opportunities, and broader industrial, petrochemical, chemical and commercial cooperation opportunities. These efforts build on its longstanding collaboration with Sonatrach and a shared ambition to contribute to the strategic, industrial and decarbonization objectives of both companies.
