KUALA LUMPUR (Aug 6): Oil and gas (O&G) offshore support vessel (OSV) operator Keyfield International Bhd (KL:KEYFIELD) said on Tuesday it has secured a contract worth US$10 million (RM44.3 million) to supply a maritime vessel for two years.

The contract, which commences this September, is for subsidiary Keyfield Offshore Sdn Bhd (KOSB) to provide one unit of an 80MT bollard pull anchor handling tug supply (AHTS) vessel for Carigali-PTTEPI Operating Company Sdn Bhd (CPOC), it said.

The contract comes with a one-year extension option for another US$5 million (RM22.2 million).

“KOSB will provide one unit of AHTS with crew and on-board services to meet the charterer’s requirements [CPOC],” said Keyfield.

In a separate filing, Keyfield announced that it will purchase a second-hand AHTS vessel named MV Aulia from Fun Success Ltd for US$7.8 million (RM34.6 million).

MV Aulia, first delivered in 2021, has an accommodation capacity of 42 persons. Keyfield has been chartering it to customers as a third-party vessel since February 2024.

Keyfield intends to fund the purchase consideration through internally generated funds and may also utilise available bank borrowings for partial refinancing.

Keyfield’s group chief executive officer and executive director Datuk Darren Kee said the acquisition of MV Aulia is a strategic decision to expand the group’s fleet. The vessel is familiar to its commercial and technical teams, Kee said.

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

According to its website, Keyfield currently has one other AHTS, nine accommodation work boats (AWBs), an accommodation barge, and one geotechnical platform supply vessel.

Previously, on June 25, Keyfield had engaged two Chinese companies, Jingjiang Nanyang Shipbuilding Co Ltd and Nantong Shunyang Trade and Development Co Ltd, to acquire a new AWB at a cost of US$30.5 million (RM143.7 million). The 90-metre-long Dynamic Positioning 2 (DP2) workboat is scheduled for delivery by February 2026.

On the same day, it also signed an agreement to acquire a second-hand DP2 AWB named MV Belait Barakah from Belait Barakah Sdn Bhd for US$6 million. Following rectification and activation, the vessel will be ready for chartering operations by the fourth quarter of 2024.

Keyfield shares closed 16 sen or 7.51% higher at RM2.29 on Tuesday, valuing the group at RM1.84 billion.