KOIL Energy announces award of a significant contract
KOIL Energy Solutions (OTCQB: KLNG) has secured a significant contract for subsea control equipment.
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Rhea-AI Summary
KOIL Energy Solutions (OTCQB: KLNG) has secured a significant contract for subsea control equipment. The project involves engineering, procurement, and manufacturing of Subsea Safety Control Systems designed to protect offshore platforms and personnel from hydrocarbon releases.
The company will conduct engineering and procurement activities throughout 2025, with manufacturing scheduled for the first half of 2026 at their Houston facility. A separate services contract for installation and testing will be awarded at a later date.
Positive
- Contract win demonstrates market trust in KOIL's subsea safety solutions
- Project pipeline extends into 2026 providing revenue visibility
- Potential for additional revenue through future installation and testing contract
Negative
- Contract value not disclosed
- Final installation and testing contract not yet secured
Details
News Market Reaction – KLNG
On Aug 29, the day this news came out, KLNG closed 7.14% above the previous close.
Data tracked by StockTitan Argus for the Aug 29 session.
AI-generated analysis. How Rhea-AI works. Not financial advice.
HOUSTON, Aug. 29, 2025 (GLOBE NEWSWIRE) -- Koil Energy Solutions, Inc. (OTCQB: KLNG), an international specialist in subsea equipment and services, today announces the award of a significant contract, which includes control equipment for a subsea isolation valve system. The purpose of the system is to protect the offshore platform and its personnel from the unintended release of hydrocarbons from subsea wells. The contract encompasses the engineering, procurement, and manufacturing of KOIL's robust and well-proven technical solution for Subsea Safety Control Systems.
"This contract highlights our team's achievement in creating integrated solutions," said Erik Wiik, CEO of KOIL Energy. "We are honored to have earned our customers’ trust to deliver equipment that will play a vital role in enhancing the safety of their offshore facility."
KOIL Energy will perform engineering and procurement activities during 2025 followed by manufacturing at its state-of-the-art production facility in Houston, Texas in the first half of 2026. A services contract for the installation and testing will be awarded later.
About KOIL (www.koilenergy.com)
KOIL Energy is a leading energy services company offering subsea equipment and support services to the world's energy and offshore industries. We provide innovative solutions to complex customer challenges presented between the production facility and the energy source. Our core services and technological solutions include distribution system installation support and engineering services, umbilical terminations, loose-tube steel flying leads, and related services. Additionally, KOIL Energy's experienced team can support subsea engineering, manufacturing, installation, commissioning, and maintenance projects located anywhere in the world.
Investor Relations:
ir@koilenergy.com
281-862-2201
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