KUALA LUMPUR, Petronas has reiterated its commitment to operations in Brazil, describing the country as a key market where it maintains a strong, integrated presence across the energy value chain.
In a statement issued today, the national oil company clarified its position amid recent reports suggesting a potential stake sale. It highlighted its current involvement in three producing fields and four deepwater exploration blocks within Brazil’s upstream sector.
Beyond upstream activities, Petronas also operates a floating production, storage and offloading (FPSO) unit via MISC Bhd, while AET, a MISC subsidiary, supports offshore production with a fleet of 13 dynamic positioning shuttle tankers.
This comes following reports that Petronas was working with Bank of America Corp to divest its 50% interest in the Tartaruga Verde oil field in Brazil, with unnamed sources estimating the potential deal at around US$1 billion.
In response, Petronas stated that it routinely reviews its global investments — including those in Brazil — to enhance portfolio resilience and drive long-term value creation.
“These periodic reviews ensure our portfolio remains aligned with our growth strategy, as we continue to focus on maintaining a strong and sustainable presence,” the company said.
Petronas acquired its stake in Tartaruga Verde in 2019 through a broader deal with Petrobras, which retains the remaining 50% interest in the field.
