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ConocoPhillips
COP today announced it has completed the
transaction with Pertamina for the sale of its Algeria business unit for
a total sales price of $1.75 billion, which resulted in proceeds of
$1.65 billion, including customary adjustments.
“We are pleased to complete this transaction with Pertamina,” said Don
Wallette, executive vice president, Commercial, Business Development and
Corporate Planning. “We appreciate the long and productive relationship
we have had with the government of Algeria and with Sonatrach, the
national oil company of Algeria."
The company's divestiture proceeds from 2012 through third-quarter 2013,
plus this sale and the recently completed Kashagan sale, have totaled
approximately $12.4 billion. These proceeds will
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