Keyfield unit delivers DP2 geotechnical vessel for long-term charter

KUALA LUMPUR: Keyfield International Bhd said its wholly-owned subsidiary Keyfield Offshore Sdn Bhd has handed over Keyfield Helms 1, a DP2 geotechnical vessel, to Helms Geomarine Sdn Bhd (HGSB) to commence its charter.

In a statement, the group said the 3+2 years charter contract, which commences in July 2024, was agreed upon and signed in December 2023 prior to Keyfield's listing in April 2024.

It said the primary charter period will run until end-June 2027 whereby KH1 will be utilised to primarily support HGSB’s recently awarded three-year geotechnical investigation contract with PETRONAS, which includes a

two-year optional extension.

Additionally, the vessel will support HGSB’s long-term contracts with Carigali Hess and SSB/SSPC in Malaysia, as well as Chevron and PTTEP in Thailand.

Keyfield group CEO and executive director Datuk Darren Kee said a strategic decision was made to convert KH1 into a dedicated geotechnical vessel.

"We successfully obtained KH1’s class notation, certified by Bureau Veritas, as a 'Geotechnical Services Vessel', making her the only Malaysian DP2 Geotechnical Vessel equipped with HiPAP.

"The conversion of KH1 into a Geotechnical Vessel enables us to collaborate closely with HGSB, a 100% Malaysian Bumiputera PETRONAS contractor, to meet PETRONAS's stringent requirements and fill a crucial niche in the marketplace," he said.