(Ecofin Agency) - Petronas, Malaysia's Petroliam Nasional Bhd has announced that it was still operating in Mauritania after recent media reports said it had started to withdraw out of the North African nation as low global oil prices cut revenue. "In the event that Petronas intends to close our operations in the country, it will be in strict compliance with our legal commitments and is subject to customary conditions including the necessary approvals from relevant authorities," Wee Yiaw Hin, Petronas' chief executive officer for upstream, told Reuters.

Petronas, the state owned oil firm which contributes over half of Malaysia's oil revenue, had revealed in December that it was open to selling its assets in Africa if growth outlooks are limited, specifically in Mauritania and Cameroon.

Petronas has one block in Mauritania producing 6,000 bo/d, and several gas assets in Cameroon.

The firm's net profit fell 47 % to 11.1 billion ringgit ($2.62 billion) in the April to June quarter on plunging crude oil prices, which has halved since last year. ($1 = 4.2330 ringgit)