KOIL Energy Wins Significant Service Contract

HOUSTON, Oct. 23, 2026 (GLOBE NEWSWIRE) -- KOIL Energy Solutions, Inc. (OTCQB: KLNG), a specialist in deepwater energy production and distribution equipment and services, today announced the award of a significant project for Subsea Cable Management Services.

KOIL will deploy a dedicated team of experienced service supervisors and technicians to provide operational support and coordination, including umbilical spooling and operations. The scope also includes specialized rental equipment.

“This repeat award reflects our customer’s confidence in our team’s execution, craftsmanship, and commitment to safety demonstrated on the previous project,” said Erik Wiik, President and Chief Executive Officer of KOIL Energy. “We have expanded our service team in preparation for this significant engagement and continue to grow our workforce to support the strong pipeline of opportunities ahead.”

The engagement highlights KOIL’s ability to complement its subsea equipment offerings with experienced field service personnel and ongoing operational support.

KOIL provides subsea systems and services that support the full life cycle of offshore oil and gas developments. Its technical expertise, field-proven equipment and service capabilities help customers execute projects from manufacturing and testing through installation, commissioning and maintenance.

About KOIL (www.koilenergy.com)

KOIL Energy is a leading energy services company offering subsea equipment and support services to the world's energy and offshore industries. We provide innovative solutions to complex customer challenges presented between the production facility and the energy source. Our core services and technological solutions include distribution system installation support and engineering services, umbilical terminations, loose-tube steel flying leads, and related services. Additionally, KOIL Energy's experienced team can support subsea engineering, manufacturing, installation, commissioning, and maintenance projects located anywhere in the world.

Investor Relations Contact:

[email protected]
281-862-2201

Source: Koil Energy Solutions, Inc.

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