KUALA LUMPUR (Aug 23): Oil and gas services firm Keyfield International Bhd (KL:KEYFIELD) said on Friday it had secured a contract to provide an accommodation workboat worth RM48 million that includes an extension option.
The primary charter started in August and is valued at RM34.6 million for an unspecified period, while the extension option is valued at RM13.4 million, Keyfield said in an exchange filing. Keyfield will provide crew and on-board services along with the workboat, the company noted.
The contract is expected to contribute to the earnings and net assets of Keyfield for the financial year ending Dec 31, 2024, Keyfield said.
Vestigo is a unit of Petronas Carigali Sdn Bhd, which in turn is a wholly owned unit of Malaysia’s national oil and gas company Petroliam Nasional Bhd.
At Friday's noon break, Keyfield's share price was traded two sen or 0.8% lower at RM2.44, bringing the group a market capitalisation of RM1.96 billion. The stock, listed on the Main Market of Bursa Malaysia in April this year, has nearly tripled from its initial offering price of 90 sen.