KOIL Energy Wins Significant Contract Offshore West Africa
KOIL Energy (OTCQB: KLNG) announced it won a contract from an international oil company to provide load out, transit, installation monitoring, and pre-commissioning services for an offshore West Africa development.
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Rhea-AI Summary
KOIL Energy (OTCQB: KLNG) announced it won a contract from an international oil company to provide load out, transit, installation monitoring, and pre-commissioning services for an offshore West Africa development.
The scope includes engineering, project management, onshore/offshore personnel, specialized rental equipment and mobilization to vessels, quayside and offshore facilities. Mobilization is scheduled for the second half of 2026.
Positive
- Awarded a significant contract to provide subsea installation and pre-commissioning services
- Mobilization of personnel and equipment scheduled for second half of 2026
Negative
- None.
Details
News Market Reaction – KLNG
On Mar 11, the day this news came out, KLNG closed 9.90% above the previous close.
Data tracked by StockTitan Argus for the Mar 11 session.
AI-generated analysis. How Rhea-AI works. Not financial advice.
HOUSTON, March 11, 2026 (GLOBE NEWSWIRE) -- KOIL Energy Solutions Inc. (OTCQB: KLNG), a leading international provider of subsea equipment and services, today announced the award of a significant contract from an international oil company to perform load out, transit, installation monitoring, and pre-commissioning services for an offshore development in West Africa.
KOIL Energy Subsea Testing Equipment
The comprehensive scope of work includes engineering, project management, onshore and offshore support personnel, and specialized rental equipment.
Under the contract, KOIL Energy will mobilize personnel and equipment to transportation and installation vessel(s), as well as quayside and offshore production facility to provide the installation and pre-commissioning services of multiple subsea umbilical systems to be tied back to an existing deepwater field. Mobilization is scheduled for the second half of 2026.
"This contract is a recognition of our company’s capabilities of delivering mission-critical services to deepwater developments internationally," said Erik Wiik, CEO of KOIL Energy. "It is also a testament to our teams’ expertise in testing of advanced deepwater systems and helping customers bring production online efficiently and safely."
KOIL is globally recognized for providing competitive subsea systems and services that support the full life cycle of offshore oil and gas developments. Its high-performance methodologies and field-proven test equipment are designed to accelerate clients’ path to oil and gas production.
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/ac949040-6383-45dc-973e-f3dadcb33a10
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