KOIL Energy Secures Significant Contract with U.S. Oil Company to Deliver an Integrated Subsea Distribution System
Rhea-AI Summary
KOIL Energy (OTCQB: KLNG) announced it was awarded a contract to supply an integrated subsea distribution system for a deepwater Gulf of America tieback project. KOIL will manufacture SUTAs, HDMs, STFLs, mudmats and ancillary hardware and will perform engineering, procurement, fabrication, assembly, integration and testing at its Houston facility. The system will tie back to an existing subsea field and control assets including PLEMs and trees. Final delivery is scheduled for 3rd quarter 2026. An option for offshore installation services is included.
Positive
- Awarded a binding subsea distribution system contract
- Final delivery scheduled for 3rd quarter 2026
- Manufacturing and integration to occur at Houston facility
Negative
- Contract value not disclosed, limiting visibility into financial impact
News Market Reaction
On the day this news was published, KLNG gained 3.53%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
HOUSTON, Jan. 12, 2026 (GLOBE NEWSWIRE) -- KOIL Energy Solutions, Inc. (OTCQB: KLNG), an international specialist in subsea equipment and services, today announces the award of a significant contract to supply a subsea distribution system for a deepwater project in the Gulf of America.
KOIL Energy Subsea Distribution System
KOIL Energy will manufacture the subsea umbilical termination assemblies (SUTAs), hydraulic distribution manifolds (HDMs), steel tube flying leads (STFLs), mudmat structures, and ancillary hardware for a subsea tieback project. KOIL’s service team will integrate and test the system, incorporating KOIL’s manufactured equipment alongside equipment from other leading subsea suppliers. This system will tie back to an existing subsea field and control additional subsea assets such as pipeline end manifold (PLEMs) and trees.
"This contract underscores our team’s success in delivering innovative, integrated solutions," said Erik Wiik, CEO of KOIL Energy. "Our growth strategy is driven by a continued focus on delivering not only exceptional equipment but also integrated system solutions that create greater value for our customers.”
KOIL is publicly recognized for providing competitive, high-performance subsea systems globally. By leveraging practical design solutions and a vertically integrated supply chain, the company consistently delivers reliable and efficient subsea products with exceptionally competitive delivery times.
The scope of work for this project includes engineering, procurement, fabrication, assembly, integration, and testing. The project will be carried out at KOIL's state-of-the-art manufacturing facility in Houston, Texas. Final delivery is scheduled for the 3rd quarter of 2026. An option for offshore installation services is included.
About KOIL
KOIL Energy is a leading energy services company offering subsea equipment and support services to the world's energy and offshore industries. Founded in 1997, the Houston-based company is comprised of world-class experts in engineering and manufacturing who provide innovative solutions to complex customer challenges with a fearless commitment to Building the Future of Energy. KOIL Energy's highly experienced team can support subsea projects located anywhere in the world. Visit www.koilenergy.com to learn more.
Investor Relations Contact:
ir@koilenergy.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a935f3c4-dbea-4708-8ce4-5dd3f155e4ca
FAQ
What did KOIL Energy (KLNG) win on January 12, 2026?
What equipment will KOIL Energy (KLNG) supply for the subsea project?
When will KOIL Energy (KLNG) deliver the subsea distribution system?
Where will KOIL Energy (KLNG) manufacture and test the system?
Does the KOIL Energy (KLNG) contract include installation services?
