Petronas says legal process to reclaim rights over assets in Sudan ongoing

KUALA LUMPUR : Petroliam Nasional Bhd (Petronas) is keeping a close watch on the unfolding political situation in Sudan amid its ongoing legal action to reclaim its rights over Petronas Complex and land in Khartoum and also to cancel arrest warrants issued against its officers there.

“The legal processes to reclaim the rights over Petronas Complex and land in Khartoum and for the cancellation of the wrongful arrest warrant issued against PetroDar Operating Company officers are ongoing. 

“As such, Petronas is unable to provide further information on these two separate matters,” the national oil company told The Edge in an emailed reply to queries on the status of the company’s operations and assets in Sudan, as well as its response to the reported allegations.

Petronas says legal process to reclaim rights over assets in Sudan ongoing

Following the recent military coup in Sudan, the transitional government had reportedly issued an arrest warrant against Petronas’ country manager and other officers.

It was reported that the transitional government was seeking to confiscate assets belonging to Petronas, alleging they were acquired through illegal means during the rule of ousted leader Omar al-Bashir.

Petronas has strongly objected to the confiscation of its assets.

Petronas said in an Oct 7 statement on its website that its rights over the land and complex in Khartoum were obtained in accordance with rightful applicable laws. 

“[Petronas] has been jointly working with the Ministry of Foreign Affairs Malaysia to exercise all diplomatic channels with the authorities in Sudan to amicably resolve the issue. 

“As there has been no positive development thus far, Petronas has filed a request for arbitration at the International Centre for Settlement of Dispute (ICSID) on the matter. As the legal process has commenced, Petronas is unable to provide further information on this matter,” it said in that statement.

By : Cheryl Poo – THE EDGE MARKETS

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