KOIL Energy Secures Major Offshore Maintenance Contract

KOIL Energy Solutions, Inc. (OTCQB: KLNG), a leading global provider of subsea equipment and services, has secured a significant contract to provide advanced maintenance services on an offshore production platform for an international oil and gas company. This strategic win underscores KOIL's expertise in managing critical repairs in confined spaces and its commitment to energizing the future of the offshore industry.

The contract, valued at $20 million, includes the removal, welding, termination, and commissioning of specialty alloy tubing used for chemical injection and hydraulic control, as well as the termination and testing of electrical cables. Additionally, KOIL will supply a Topside Umbilical Termination Assembly and subsea commissioning Logic Caps. This project is projected to be completed in the first quarter of 2025.


This contract contributes to KOIL's backlog of projects and future revenue streams, with an expected margin of 15%. The company's expertise in managing critical repairs in confined spaces has led to an increasing number of subsea umbilical re-termination projects, further solidifying its position in the offshore maintenance services market.

KOIL's revenue growth and financial stability are bolstered by this contract, which aligns with the company's long-term business strategy and expansion plans. The contract also opens up new market opportunities for KOIL, particularly in the offshore maintenance services sector, and enhances the company's reputation and expertise in subsea maintenance services.


In conclusion, KOIL Energy's recent contract win demonstrates its commitment to delivering innovative solutions to complex customer challenges in the offshore industry. With a focus on safety, efficiency, and expertise, KOIL continues to energize the future of the energy and offshore industries.