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Keyfield wins US$10mil AHTS charter contract from Carigali-PTTEPI

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The anchor handling tug supply is intended for Carigali-PTTEPI Operating Company’s offshore activities.

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Keyfield Offshore’s anchor handling tug supply contract with Carigali-PTTEPI Operating Company is expected to start next month for a firm charter period of two years, with an optional one-year extension. (Keyfield pic)

PETALING JAYA:
Keyfield International Bhd’s subsidiary, Keyfield Offshore Sdn Bhd (KOSB), has bagged an anchor handling tug supply (AHTS) award from Carigali-PTTEPI Operating Company Sdn Bhd (CPOC).

In a filing with Bursa Malaysia today, Keyfield said the AHTS is intended for CPOC’s offshore activities, and the contract will commence next month for a firm charter period of two years, with an optional one-year extension.

The contract for the primary charter period is valued at approximately US$10 million (RM44.73 million), while the extension period is valued at approximately US$5 million (RM22.36 million).

The contract is expected to contribute positively to the earnings and net assets of Keyfield Group for the financial years 2024, 2025, and 2026.

In a separate filing, the oil and gas offshore support vessel operator also announced that KOSB has entered into a memorandum of agreement with Fun Success Ltd for the acquisition of a secondhand AHTS, “MV Aulia”, for US$7.8 million (RM34.89 million).

Keyfield Group CEO and executive director Darren Kee said the addition of Aulia into its fleet is in line with the company’s expansion plans.

“It can be immediately deployed in our chartering operations as our group’s vessel, thereby enabling us to earn a higher gross profit margin as compared to when it was a third-party vessel.

“The addition of Aulia to our fleet will enable us to meet the growing demand for AHTS,” he said.

At the close of trading, Keyfield’s share price was up 16 sen or 7.51% at RM2.29, giving the group a market capitalisation of RM1.84 billion.

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