Moave agrees to sell stakes in 3 Algerian oil fields to Pertamina

Spain's Moeve agreed to sell its entire stakes in three onshore oil fields in Algeria's Berkine Basin—Rhourde el Khrouf, Bir el Msana and Ourhoud—to PAEP, the Algerian subsidiary of Indonesia's state-owned Pertamina, through subsidiaries Cepsa Algérie and Cepsa (Rhourde El Rouni). The fields are non-operated assets, and the deal covers Moeve's full interests rather than ownership of the fields themselves; the transaction still requires approval from Algerian authorities. Financial terms were not disclosed. The sale continues Moeve's reshaping of its upstream portfolio around non-operated assets while expanding Pertamina's North African footprint. Next, watch for Algerian regulatory clearance and any further divestments or upstream rebalancing by Moeve.