ELPI Wins $12.04m Charter Deal With Atlantic Maritime
The three-year contract covers two crewboats serving offshore operations across the Gulf region.
Updated on Nov. 3, 2026 in Oil and Gas
Indonesian marine services firm ELPI secured a three-year charter contract worth $12.04 million with Atlantic Maritime Group. The deal covers two crewboats, Kazo Agility 2 and Kazo Agility 3, which will support offshore hook-up and transportation work in Saudi Arabia, the United Arab Emirates, Qatar, and Bahrain.
Why it matters
The contract extends ELPI's footprint in Middle Eastern offshore markets, where demand for crew and supply vessels tied to oil and gas operations remains steady. It also follows a separate, larger award for a floating LNG project in Indonesia, signaling the company's growing role in both regional and international offshore services.
The charter is valued at $12.04 million over three years for two crewboats of roughly 40.3 meters each, with the Kazo Agility 2 delivered in 2024 and the Kazo Agility 3 in 2025. Financial terms beyond total contract value, including day rates and utilization assumptions, were not disclosed.
The players
ELPI
ELPI is an Indonesian marine services company that operates crew and supply vessels for offshore energy projects.
Atlantic Maritime Group
Atlantic Maritime Group is the counterparty to the three-year charter contract covering two ELPI crewboats.
Saudi Aramco
Saudi Aramco is Saudi Arabia's national oil company and one of the largest oil producers in the world.
The details
The Kazo Agility 2 and Kazo Agility 3 were built by PT Orela Shipyard and will support offshore hook-up and transportation activities across four Gulf states. In September, ELPI had reported that both vessels were already working for Saudi Aramco.
Timeline
2024: Kazo Agility 2 delivered by PT Orela Shipyard.
2025: Kazo Agility 3 delivered; in September both vessels were reported working for Saudi Aramco.
Earlier in 2026: ELPI acquired the multipurpose support vessel Bourbon Evolution 805.
November 3, 2026: The Atlantic Maritime charter contract was announced.
Market Landscape
The contract shows Indonesian offshore service providers pursuing work in the Middle East's offshore oil and gas market alongside domestic LNG projects. It positions ELPI to compete for charter work in a region where national oil companies such as Saudi Aramco already contract regional crewboat capacity.
For offshore workers and shipping contractors, the deal means more crewboat capacity tied to Middle Eastern energy projects over the next three years. Consumers are unlikely to see any direct price effect from a single charter contract of this size.
The takeaway
Mid-sized regional vessel operators can win meaningful offshore contracts by pairing domestic LNG work with international charters. Watch for follow-on contracts that would confirm ELPI's Middle East expansion.
Further reading
For more on offshore supply activity, see Oil and Gas coverage.
