Moeve Agrees to Sell Algerian Oil Assets to Pertamina

✦ Meridian Analysis

Spanish energy group Moeve has signed an agreement to sell minority stakes in the Rhourde el Khrouf, Bir el Msana and Ourhoud on‑shore oil fields in Algeria’s Berkine Basin to Indonesia’s state‑owned energy company Pertamina. The assets are held by Moeve, which is majority‑owned by Abu Dhabi sovereign‑wealth fund Mubadala and backed by private‑equity firm Carlyle. Moeve is divesting oil production as part of its €8 billion strategy toward green hydrogen, biofuels and other low‑carbon businesses. The transaction is a share‑sale of minority interests; the financial terms remain confidential. Earlier this month Meridian reported that Moeve sold its entire traditional Algerian oil and gas business to Pertamina for USD 1 billion. What remains undisclosed are the purchase price, valuation multiples and any contingent payments tied to production performance. Details on advisers, regulatory clearances and the expected closing timetable have not been provided. Monitoring the completion of the transaction and any subsequent renewable‑energy collaborations between Moeve and Pertamina in Algeria will be essential for assessing the full impact on both parties’ strategic roadmaps.

The Meridian Weekly