Petronas Denies Shutting Down 14 Rigs

Malaysian state-run Petronas April 25 denied it has deactivated 14 oil rigs and shut down 14 projects. The clarification came in response to the news reports published in the New Straits Times on April 24.

“Petronas would like to clarify that the company has not shut down any of its rigs, offshore Malaysia, other than those concluding their drilling campaigns or are under temporary suspensions due to the current Covid-19 pandemic. As at the date of this release, 18 rigs are in operation within Malaysia waters,” it said. 

The company said that there was a temporary suspension of projects at some worksites due to the movement control order (MCO) implemented by the Malaysian government. “Currently, most of these projects have either resumed their work activities or will be resuming soon upon securing the necessary approval from the government,” Petronas added. 

However, the company expects some projects to be delayed due to the prolonged lockdowns implemented globally and the MCO in Malaysia, and further disruptions anticipated to the global supply chain.

Earlier this month, Petronas raised $6bn from a multi-tranche senior bond offering, marking its first such sale in five years.