Moeve completes exit from oil exploration with final Algeria asset sale to Pertamina

Moeve has agreed to sell its final upstream assets: three hydrocarbon fields in Algeria's Berkine Basin to Indonesian energy company Pertamina, marking the completion of a multi-year exit from oil and gas exploration and production. This transaction, conducted through subsidiaries Cepsa Algérie and Cepsa (Rhourde El Rouni), involves the Rhourde el Khrouf, Bir el Msana, and Ourhoud fields, with final completion subject to Algerian regulatory approval. The divestment represents a structural shift in global energy supply chains as a major European integrated oil company fully exits upstream operations while maintaining downstream and renewable energy activities.

For supply chain professionals, this signals an accelerating industry pivot away from hydrocarbon exploration toward renewable energy infrastructure. Moeve's 2023-2025 divestment cycle across Abu Dhabi, Colombia, Peru, Suriname, and now Algeria demonstrates how rapidly energy companies are reallocating capital and operational focus. This reshaping affects upstream supply networks, refining and marketing channels, and creates new opportunities in hydrogen production and biofuel manufacturing.

The company claims it will become Europe's first integrated oil and gas company to fully exit upstream operations, positioning itself as a leader in the energy transition rather than a pure-play hydrocarbon producer.