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KUALA LUMPUR – National oil and gas company Petronas says its two subsidiaries registered in Luxembourg which were served with seizure orders have already divested their assets in Azerbaijan.
Refering to the Financial Times’ report titled “Petronas subsidiaries seized as lawyers press US$15 billion claim on Malaysia”, the company also confirmed that its two subsidiaries mentioned in the article have been served with “Saisie-arret” on July 11, 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,” it said in a statement.
“Petronas views the actions taken against it as baseless and is working vigorously to defend its legal position on this matter.” – The Vibes, July 12, 2022
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