KUALA LUMPUR, 12 July 2022 – PETRONAS refers to the Financial Times’ report titled ‘PETRONAS subsidiaries seized as lawyers press $15bn claim on Malaysia’.
We confirm that our two subsidiaries mentioned in the report have been served with ‘Saisie-arret’ on 11 July 2022.
PETRONAS wishes to clarify that these subsidiaries, PETRONAS Azerbaijan (Shah Deniz) S.à r.l. and PETRONAS South Caucasus S.à r.l., have previously divested its entire assets in the Republic of Azerbaijan and the proceeds from the exercise have been duly repatriated.
PETRONAS views the actions taken against it as baseless and is working vigorously to defend its legal position on this matter.