Kuala Lumpur, August 29, 2025 — Keyfield International Berhad has announced plans to acquire the Carimin Acacia, a nine-year-old Dynamic Positioning 2 Accommodation Workboat (DP2 AWB), in a deal valued at RM76 million. The acquisition, made through its wholly owned subsidiary Keyfield Marine Sdn Bhd, was formalised via a conditional memorandum of agreement with Carimin Acacia Offshore Sdn Bhd, a unit of Carimin Petroleum Berhad.
The transaction remains subject to shareholder approval at Carimin’s upcoming general meeting.
Enhancing Offshore Capabilities
The Carimin Acacia is a Malaysian-flagged vessel with a strong operational record, having supported projects across Malaysian waters over the past decade. Designed for flexibility, the DP2 AWB is capable of operating in more challenging offshore environments—including congested seabeds, deeper waters, and volatile weather conditions—making it highly sought after for chartering opportunities.
“This acquisition strengthens our position as Malaysia’s leading offshore accommodation provider by boosting fleet capacity and competitiveness,” said Dato’ Darren Kee, Group Chief Executive Officer and Executive Director of Keyfield. “The addition of Acacia will deepen our presence in our core business activities and enhance our ability to cater to higher-specification charter projects.”
Strategic Fit with Long-Term Growth
The deal comes on the heels of Keyfield’s recent disposal of the Keyfield Lestari, with Acacia expected to provide a more advanced and competitive replacement. Kee noted that the vessel will improve economies of scale in scheduling and position the company for expanded opportunities both domestically and internationally.
The acquisition will be fully financed using proceeds from Keyfield’s Sukuk issuance completed in December 2024. The company expects the investment to be earnings-accretive, contributing positively to revenue and net assets from FY2026 onwards once the vessel is deployed.
Industry Outlook
Malaysia’s offshore support vessel (OSV) market is expected to remain resilient, driven by sustained exploration, maintenance, and production activities. By expanding its DP2 AWB fleet, Keyfield aims to capture a larger share of tenders requiring higher-specification vessels, solidifying its role in the region’s offshore energy logistics sector.
