Petronas said it plans to reduce up to 1,000 jobs from the company as it looks to streamline costs.
The company made the announcement on the same day the GE Oil & Gas said it would be making job losses.
The Malaysian state oil company said it would be making the losses as it moves to a new business structure.
It is not yet clear which jobs will be affected or whether it will be permanent or contract employees.
A spokesman said: “Exhaustive efforts are on-going to re-deploy affected employees.
“Petronas will further embark on a separation exercise for these employees as needed, which is expected to be completed over the next six months.”
Earlier this week, the company said it would be tapping into its reserves in a bid to meet its dividend this year.
The move comes after Petronas also posted a net loss of $704.3million which it said had been impacted on lower oil prices.