Kuala Lumpur: Keyfield International Bhd’s (KIB) wholly owned subsidiary, Keyfield Offshore Sdn Bhd (KOSB), has secured a work order award (WOA) from Petronas Carigali Sdn Bhd (PCSB) for the provision of an accommodation work boat (AWB). The contract is a significant step for KOSB, aligning with its strategic objectives in offshore support vessel services.

According to BERNAMA News Agency, the WOA, dated April 11, 2025, was issued under the existing panel contractor contract for offshore support vessel services. The award is set for approximately seven months, with an option to extend for an additional two months, commencing in the second quarter of 2025. This contract is anticipated to positively impact KIB’s earnings and net assets for the financial year ending December 31, 2025, without altering its share capital or shareholding structure.

KIB noted that the acceptance and execution of the contract by KOSB are subject to the usual operational risks associated with their business operations. These risks are actively mitigated through various internal control procedures. Additionally, KIB confirmed that none of its directors, major shareholders, or persons connected to them have any interest in the contract. The board of directors believes that accepting and executing the work order is in the best interest of the company.

The announcement of the contract was made after receiving approval from PCSB to release the information, marking a positive development for Keyfield International in its ongoing business endeavors.