Keyfield Secures RM56 Million Work Orders From Petronas Carigali
Keyfield International Bhd’s wholly owned subsidiary, Keyfield Offshore Sdn Bhd, has accepted a work order award (WOA) and a work order extension (WOE) from Petronas Carigali Sdn Bhd for the charter of two units of dynamic positioning accommodation workboats under the Panel Contractor Contract for Offshore Support Vessel Services.
In a filing to Bursa Malaysia today, Keyfield said the work orders, subject to Petronas Carigali’s rights under the contract, the WOA and WOE will have durations of five to six months each from the respective commencement dates.
“Both work orders have commenced in January 2025 and have a combined value of approximately RM56 million,” it said, adding that the work orders are expected to contribute positively to its earnings and net assets for the financial year ending Dec 31, 2025.
“The acceptance and execution of the WOA and WOE by Keyfield Offshore will be subject to normal operational risks associated with our business operations, which we actively mitigate through various internal control procedures,” it said.
At close today, Keyfield’s share price dropped two sen to RM2.33 with 390,500 shares traded hand.
