In a statement clarifying its position, Petronas said it is currently involved in three producing fields and four deepwater exploration blocks in Brazil’s upstream segment.

“In addition to upstream operations, we operate a floating production and storage offloading (FPSO) unit through MISC Bhd, while (MISC subsidiary) AET supports offshore production with a fleet of 13 dynamic positioning shuttle tankers,” it said.

It was recently reported that Petronas was working with Bank of America Corp to divest its 50% in the Brazilian oil field Tartaruga Verde, with sources saying the company was seeking about US$1 billion for the stake.

In response, Petronas said it regularly reviewed its investments to strengthen resilience and drive long-term value creation, including in Brazil.

“Such reviews ensure continued alignment with our growth strategy, as our focus remains on maintaining a robust and sustainable portfolio,” it said.

Petronas acquired its stake in Tartaruga Verde in 2019 as part of a broader deal with Petróleo Brasileiro SA (Petrobras), which holds the remaining 50%.