KUALA LUMPUR (Feb 4): Oil and gas offshore support vessel (OSV) operator Keyfield International Bhd (KL:KEYFIELD) said the group has secured two contracts worth a total of RM59.6 million for vessel charter jobs in the United Arab Emirates (UAE) and Malaysia.

The first contract was awarded to its wholly owned unit, Keyfield Offshore Sdn Bhd (KOSB), by an offshore marine service provider in the UAE for the charter of an anchor handling tug supply vessel (AHTS), said Keyfield in a filing on Tuesday.

The second contract was also awarded to KOSB by a commercial diving and remote-operated vehicle service provider in Malaysia for the charter of a dynamic positioning 2 accommodation workboat (DP2 AWB).

Keyfield said it could not disclose the names of the charterers due to the confidential and privacy considerations.

“The charter of the AHTS is expected to commence in the first week of April 2025, for a firm duration of 720 days, plus an option to extend for another 180 days, for the vessel to be deployed in the UAE.

“The charter of the DP2 AWB is expected to commence in mid-February 2025, for a firm duration of 150 days, plus an option to extend for another 120 days, for the vessel to be deployed in Malaysia,” said Keyfield.

The contracts are expected to contribute positively to the group's earnings and net assets for the financial years ending Dec 31, 2025, and Dec 31, 2026, it added.

Shares of the Main Market-listed company closed down one sen or 0.43% to RM2.30 on Tuesday, valuing the group at RM1.85 billion.