Summary:

On 4 November 2026, Spanish energy company Moeve, nearly 62% owned by Abu Dhabi’s Mubadala, agreed to sell its minority interests in three Algerian oilfields to Indonesia’s Pertamina. The sale, alongside the planned divestment of its Timimoun gas field stake, will complete Moeve’s withdrawal from upstream operations in Algeria. 

The move forms part of the company’s EUR 8 billion strategy to expand its low-carbon energy businesses, particularly green hydrogen and biofuels. Moeve plans to maintain a presence in Algeria through potential projects in hydrogen, renewables and chemicals, including through cooperation with Sonatrach. 

Outlook: 

Pertamina’s acquisition will deepen its exposure to Algeria’s hydrocarbon sector, adding three producing assets to its existing upstream portfolio and reinforcing its position as a foreign operator in the Berkine Basin. 

For Algeria, the deal maintains foreign participation in oil production as Moeve redirects its investments towards low-carbon energy. The more significant question is whether Moeve’s planned cooperation with Sonatrach can translate into tangible investment, particularly as Algeria seeks to develop its green hydrogen industry and strengthen its energy links with Europe.

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