ALGERIA
 
Indonesia’s Pertamina Pays $1.75bn For ConocoPhillips Algeria Assets
 
Pertamina has become the latest Asian state firm to expand at the expense of IOCs in Algeria, paying $1.75bn for US firm ConocoPhillips’ 65% controlling stake in Block 405a in the Berkine Basin.
 
By James Cockayne
 
Block 405a contains the Conoco-operated 24,000 b/d Menzel Ledjmet North field as well as minority stakes in fields which are largely on neighboring...