ELPI Secures Major Contract for Genting's FLNG Project

Contract Details and Project Scope

PT Pelayaran Nasional Ekalya Purnamasari Tbk (ELPI) has secured a significant long-term contract worth Rp 2.39 trillion from PT Layar Nusantara Gas, an entity within the Genting Group ¹

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Source 2

https://investasi.kontan.co.id/news/pelayaran-nasional-ekalya-elpi-kantongi-kontrak-rp-239-triliun-dari-genting-group

. The contract is for supporting the Floating Liquefied Natural Gas (FLNG) project located in Teluk Bintuni, West Papua. As part of this agreement, ELPI will provide a total of six vessels, comprising one Crew Boat, one Pilot Boat, one Offshore Supply Vessel (OSV), and three Multi-Purpose Tugs ¹

Source 1

https://investasi.kontan.co.id/news/kantongi-kontrak-rp-239-triliun-dari-genting-group-begini-prospek-saham-elpi

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Contract Duration and Implementation

The charter contract is set to last for 18 years, with the preparation and construction of the required vessels expected to take approximately 18 months ¹

. This timeline indicates that the project will commence operations in early 2027, pending the completion of the vessel preparations. The long duration of the contract underscores the strategic importance of this project for both ELPI and Genting Group.

Business Impact and Strategic Significance

This contract not only represents a significant revenue stream for ELPI but also strengthens its position in the maritime industry, particularly in supporting energy infrastructure projects. The FLNG project in Teluk Bintuni is a major energy initiative that will contribute to Indonesia's energy production capabilities.