KOIL Energy Secures Significant Contract To Provide Innovative Subsea Equipment
KOIL Energy Solutions, Inc. (OTCQB: KLNG) has secured a significant contract to provide Bend Stiffener Latchers (BSL®) to an operator in a new region. The proprietary BSL® technology secures subsea umbilicals to topside facilities without divers, using a single remote operated vehicle for engagement and disengagement. This innovative solution offers substantial cost savings and improved safety for operators.
CEO Erik Wiik emphasized that this award recognizes KOIL's continuous product development efforts and strengthens their position in the global subsea industry. The project, set to be completed in Q2 2025, involves engineering, procurement, manufacturing, and testing at KOIL's Houston facility. This contract marks an important step in KOIL's expansion into new markets and highlights their expertise in providing advanced subsea equipment and services.
KOIL Energy Solutions, Inc. (OTCQB: KLNG) ha ottenuto un contratto significativo per fornire Bend Stiffener Latchers (BSL®) a un operatore in una nuova regione. La tecnologia esclusiva BSL® assicura umbilical sottomarini alle strutture di superficie senza l'uso di sommozzatori, utilizzando un singolo veicolo remoto per l'impegno e il disimpegno. Questa soluzione innovativa offre notevoli risparmi sui costi e una maggiore sicurezza per gli operatori.
Il CEO Erik Wiik ha sottolineato che questo riconoscimento evidenzia gli sforzi di KOIL nell'ambito dello sviluppo continuo del prodotto e rafforza la loro posizione nell'industria sottomarina globale. Il progetto, previsto per essere completato nel Q2 2025, prevede l'ingegneria, l'approvvigionamento, la produzione e il collaudo presso la struttura di KOIL a Houston. Questo contratto rappresenta un passo importante nell'espansione di KOIL in nuovi mercati e mette in risalto la loro esperienza nella fornitura di attrezzature e servizi sottomarini avanzati.
KOIL Energy Solutions, Inc. (OTCQB: KLNG) ha asegurado un contrato significativo para proporcionar Bend Stiffener Latchers (BSL®) a un operador en una nueva región. La tecnología exclusiva BSL® asegura umbilicales submarinos a las instalaciones en la superficie sin necesidad de buzos, utilizando un solo vehículo operado a distancia para el acoplamiento y desacoplamiento. Esta solución innovadora ofrece ahorros significativos en costos y mejora la seguridad para los operadores.
El CEO Erik Wiik enfatizó que este reconocimiento destaca los esfuerzos continuos de desarrollo de productos de KOIL y fortalece su posición en la industria submarina global. El proyecto, que se completará en Q2 2025, incluye ingeniería, adquisición, fabricación y pruebas en la instalación de KOIL en Houston. Este contrato marca un paso importante en la expansión de KOIL a nuevos mercados y resalta su experiencia en proporcionar equipos y servicios submarinos avanzados.
KOIL Energy Solutions, Inc. (OTCQB: KLNG)는 새로운 지역의 운영자에게 Bend Stiffener Latchers (BSL®)를 제공하는 중요한 계약을 체결했습니다. 독점적인 BSL® 기술은 다이버 없이 원격 조작 차량을 사용하여 해저 엄빌리칼을 상부 시설에 고정합니다. 이 혁신적인 솔루션은 운영자에게 상당한 비용 절감과 안전성을 제공합니다.
CEO Erik Wiik는 이 수상이 KOIL의 지속적인 제품 개발 노력을 인정받은 것이며, 글로벌 해양 산업에서의 입지를 강화한다고 강조했습니다. 이 프로젝트는 2025년 2분기에 완료될 예정이며, KOIL의 휴스턴 시설에서 공학, 조달, 제조 및 테스트가 진행됩니다. 이 계약은 KOIL의 새로운 시장으로의 확장에서 중요한 단계이며, 첨단 해양 장비 및 서비스 제공에 대한 전문성을 강조합니다.
KOIL Energy Solutions, Inc. (OTCQB: KLNG) a obtenu un contrat significatif pour fournir des Bend Stiffener Latchers (BSL®) à un opérateur dans une nouvelle région. La technologie BSL®, exclusive à KOIL, fixe les umbilicaux sous-marins aux installations en surface sans avoir besoin de plongeurs, en utilisant un seul véhicule télécommandé pour l'engagement et le désengagement. Cette solution innovante génère d'importantes économies de coûts et améliore la sécurité pour les opérateurs.
Le PDG Erik Wiik a souligné que cette récompense reconnaît les efforts continus de KOIL en matière de développement de produits et renforce leur position dans l'industrie sous-marine mondiale. Le projet, prévu pour être achevé au 2e trimestre 2025, comprend l'ingénierie, l'approvisionnement, la fabrication et les tests dans l'installation de KOIL à Houston. Ce contrat marque une étape importante dans l'expansion de KOIL vers de nouveaux marchés et met en avant leur expertise dans la fourniture d'équipements et de services sous-marins avancés.
KOIL Energy Solutions, Inc. (OTCQB: KLNG) hat einen bedeutenden Vertrag zur Lieferung von Bend Stiffener Latchers (BSL®) an einen Betreiber in einer neuen Region abgeschlossen. Die proprietäre BSL®-Technologie verbindet Unterwasser-Umbilicals mit Oberflächenanlagen, ohne dass Taucher benötigt werden, und nutzt ein einzelnes ferngesteuertes Fahrzeug für das Ein- und Ausklinken. Diese innovative Lösung bietet erhebliche Kosteneinsparungen und verbessert die Sicherheit der Betreiber.
CEO Erik Wiik betonte, dass dieser Preis KOILs kontinuierliche Produktentwicklungsbemühungen anerkennt und ihre Position in der globalen Unterwasserindustrie stärkt. Das Projekt, das im Q2 2025 abgeschlossen werden soll, umfasst Ingenieurwesen, Beschaffung, Produktion und Tests in KOILs Anlage in Houston. Dieser Vertrag stellt einen wichtigen Schritt in KOILs Expansion in neue Märkte dar und hebt ihre Expertise in der Bereitstellung fortschrittlicher Unterwassergeräte und -dienstleistungen hervor.
- Secured a significant contract for Bend Stiffener Latchers (BSL®)
- Expansion into a new regional market
- Proprietary technology offers cost savings and improved safety
- Recognition of KOIL's strong technology position in the global subsea industry
- None.
HOUSTON, Aug. 08, 2024 (GLOBE NEWSWIRE) -- KOIL Energy Solutions, Inc. (OTCQB: KLNG), an international specialist in subsea equipment and services, today announces the award of a significant contract today for delivering Bend Stiffener Latchers (BSL®) to an operator in a new region.
Erik Wiik, the CEO of KOIL, said, "This award is a recognition of our team’s endeavors in continuously developing our products enabling growth in new markets and underscoring KOIL’s strong technology position in the global subsea industry. Our proprietary solution is designed to secure a subsea umbilical to a topside facility without the need for divers. The locking mechanism of the BSL® allows a single remote operated vehicle to engage or disengage the locking mechanism resulting in substantial savings and improved safety for the operator.”
Engineering, procurement, manufacturing, and testing of the BSL® units will take place at KOIL’s facility in Houston, TX, and the project is projected to be completed in the second quarter of 2025.
About KOIL
KOIL is a leading energy services company offering subsea equipment and support services to the world’s energy and offshore industries. The Houston-based company founded in 1997 and formerly known as Deep Down, Inc. is comprised of world-class experts in engineering and manufacturing who provide innovative solutions to complex customer challenges with a fearless commitment to Energizing the Future. Koil Energy’s highly experienced team can support subsea engineering, manufacturing, installation, commissioning, and maintenance projects located anywhere in the world. Visit www.koilenergy.com to learn more.
Forward-Looking Statements Any forward-looking statements in the preceding paragraphs of this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties in that actual results may differ materially from those projected in the forward-looking statements. In the course of operations, we are subject to certain risk factors, competition and competitive pressures, sensitivity to general economic and industrial conditions, international political and economic risks, availability and price of raw materials and execution of business strategy. For further information, please refer to the Company's filings with the Securities and Exchange Commission, copies of which are available from the Company without charge.
Investor Relations Contact:
Trevor Ashurst
VP of Finance
tashurst@koilenergy.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/42f29f2e-91bb-48b3-ab9e-927dff47cfcc
FAQ
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