KOIL Energy Wins Significant Contract Offshore West Africa

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

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• None.

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

FAQ

What work will KOIL Energy (KLNG) perform under the West Africa contract?

KOIL Energy will provide load out, transit, installation monitoring, and pre-commissioning services for subsea systems. According to the company, the scope includes engineering, project management, personnel and specialized rental equipment for multiple subsea umbilical systems.

When will KOIL Energy (KLNG) mobilize personnel and equipment for the West Africa project?

Mobilization is planned for the second half of 2026. According to the company, teams and equipment will be mobilized to transportation and installation vessels, quayside and the offshore production facility ahead of installation.

What specific subsea systems is KOIL Energy (KLNG) contracted to install offshore West Africa?

KOIL Energy is contracted to install multiple subsea umbilical systems to be tied back to an existing deepwater field. According to the company, services include installation and pre-commissioning of those umbilicals and related testing.

How does the West Africa contract reflect on KOIL Energy's (KLNG) capabilities?

The award demonstrates the company's ability to deliver mission-critical deepwater services internationally. According to the company, it validates expertise in advanced deepwater system testing and support for clients bringing production online.

Will KOIL Energy (KLNG) supply equipment or only personnel for the West Africa contract?

KOIL Energy will provide both personnel and specialized rental equipment as part of the contract. According to the company, the comprehensive scope covers engineering, project management, onshore/offshore support personnel and specialized rental equipment.