HOUSTON, Jan. 19, 2023 (GLOBE NEWSWIRE) -- Koil Energy Solutions, Inc. (OTCQB: KLNG), an international specialist in subsea energy equipment and services, today announced the receipt of an order to provide subsea distribution equipment for the Shenandoah project, a 17,500 psi development in the US Gulf of Mexico.
"This award is further validation of our strategy to rebrand and reposition the company from a provider of components to a full systems provider," said Charles Njuguna, President and CEO of Koil Energy Solutions, Inc.
The multi-million-dollar project is for the provision of 70+ Multi Quick Connect (MQC) plates, which are critical pieces of subsea infrastructure used to enable the transfer of different fluids between subsea systems. The equipment will be qualified for 20,000 psi applications.
Njuguna concluded, "With 20,000 psi applications being the next frontier in deepwater developments, the selection of our equipment is a testament to our team's commitment to playing a leading role in the advancement of subsea technology."
The project is expected to be substantially complete by the end of 2023.
About Koil Energy
Koil Energy 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 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
Media Contact:
Hunter Dodson
Pierpont Communications
512-914-6745
hdodson@piercom.com
休斯顿,2023年1月19日(Global Newswire)--国际海底能源设备和服务专业公司Koil Energy Solutions,Inc.(OTCQB:KLNG)今天宣布收到一份为美国墨西哥湾17,500磅/平方英寸(PSI)开发项目--谢南多项目提供海底配电设备的订单。
Koil Energy Solutions,Inc.首席执行官兼首席执行官查尔斯·恩朱古纳表示:“这一奖项进一步证实了我们的战略,即重新塑造品牌,将公司从部件供应商重新定位为完整的系统供应商。”
这个耗资数百万美元的项目是为了提供70多个多快速连接(MQC)板,这些板是海底基础设施的关键部件,用于在海底系统之间传输不同的流体。该设备将适用于20,000 psi的应用。
恩朱古纳总结说:“随着20,000 psi应用成为深水开发的下一个前沿,选择我们的设备证明了我们团队致力于在推进海底技术方面发挥领导作用。”
该项目预计将在2023年底基本完成。
关于Koil Energy
Koil Energy是一家领先的能源服务公司,为世界能源和近海行业提供海底设备和支持服务。这家总部位于休斯顿的公司成立于1997年,前身为Deep Down,Inc.由世界级的工程和制造专家组成,他们为复杂的客户挑战提供创新的解决方案,无畏地致力于为未来注入活力。Koil Energy经验丰富的团队可以为世界各地的海底工程、制造、安装、调试和维护项目提供支持。访问以了解更多信息。
前瞻性陈述本新闻稿前面几段中的任何前瞻性陈述都是根据1995年《私人证券诉讼改革法》中的安全港条款作出的。请投资者注意,此类前瞻性陈述涉及风险和不确定因素,因为实际结果可能与前瞻性陈述中预测的结果大不相同。在经营过程中,我们受到某些风险因素、竞争和竞争压力、对一般经济和工业状况的敏感性、国际政治和经济风险、原材料的可获得性和价格以及商业战略执行的影响。欲了解更多信息,请参阅公司向美国证券交易委员会提交的文件,这些文件的副本可从公司免费获得。
投资者关系联系人:
特雷弗·阿舍斯特
财务副总裁
邮箱:tashurst@koilenergy.com
媒体联系人:
亨特·多德森
皮尔庞特通信公司
512-914-6745
邮箱:hdodson@piercom.com