Malaysian Prime Minister Anwar Ibrahim has said discussions will be held with Malaysian energy giant Petronas over President Dr. Mohamed Muizzu's proposal to explore potential oil and mineral resources in Maldivian waters.

Speaking at a joint press statement following talks with President Dr. Muizzu at the President's Office, PM Anwar said the Maldivian president had requested assistance in conducting surveys to determine whether commercially viable oil and other mineral deposits exist within the country's maritime territory.

PM Anwar highlighted Petronas' extensive international operations and indicated that the company could consider expanding its activities to the Maldives.

He added that Petronas representatives could travel to the Maldives to conduct resource-related research or make an initial visit as part of exploring potential cooperation.

The proposed exploration comes alongside Malaysia's agreement in principle to provide a USD 100 million facility to the Maldives through Bank Negara Malaysia, following a request from the Maldives Monetary Authority.

Interest in exploring potential oil resources in Maldivian waters dates back to 2014, during the administration of former President Abdulla Yameen.

At the time, the government discussed seeking assistance from China to conduct further studies.

Then-Fisheries Minister Dr. Mohamed Shainee said there were indications of possible oil deposits in Maldivian waters, although additional research would be necessary to establish their presence.

While the latest proposal involves potential cooperation with Petronas, no date has yet been announced for formal discussions or the commencement of exploration studies.

The initiative could mark a renewed effort to assess the Maldives' offshore natural resources and identify potential opportunities beyond its traditional economic sectors.