Dec 18 ConocoPhillips struck a deal to
sell its Algerian business unit to Indonesian state oil firm
Pertamina for around $1.75 billion.
The U.S. oil and natural gas company said Tuesday that the
unit it is selling, ConocoPhillips Algeria Ltd, holds interests
in three major onshore oil fields with average net production of
11,000 barrels of oil equivalent per day. ConocoPhillips said
the net carrying value of the Algerian assets was about $850
million at the end of October.
The proposed sale is subject to pre-emption rights by
ConocoPhillips' partners in the fields and to Algerian