KUALA LUMPUR: Keyfield International Bhd's subsidiary Keyfield Offshore Sdn Bhd has accepted eight work orders from Petronas Carigali Sdn Bhd for the provision of six accommodation workboats (AWB) and two anchor handling tug and supply vessels (AHTS) valued at RM130.3 million.
In a filing with Bursa Malaysia Securities, the group said the work order awards (WOA) are scheduled to be carried out in the second half of 2024 (2H24).
According to Keyfield, the contracts were accepted between June to August 2024, in accordance with the provisions under the panel contractor contract (PCC) for offshore support vessel (OSV) Services for petroleum arrangement contractors (PACs) dated April 9, 2024, executed between Charterer and Keyfield Offshore.
Subject to charterer's rights under the contract, the eight WOA issued will be for a duration of 91 to 153 days from the commencement date of the on-hire certificate."The WOA are expected to contribute positively to the earnings and net assets of Keyfield group for the financial year ending Dec 31, 2024. "The WOA will not have any effect on the share capital and shareholding structure of Keyfield," it said.
Keyfield's share price closed 1.29 per cent lower to RM2.30 a share, giving it a market capitalisation of RM1.8 billion.