HOUSTON, July 23, 2026 (GLOBE NEWSWIRE) -- KOIL Energy Solutions, Inc. (OTCQB: KLNG), a global leader in subsea equipment and services, today announced that it has secured a significant contract in Brazil, marking the Company's first subsea umbilical maintenance campaign in the world's largest deepwater market.
"This first significant contract in Brazil represents an exciting milestone for KOIL as we bring our proven technology into the Brazilian offshore market," said Erik Wiik, President and Chief Executive Officer of KOIL Energy. "Our team has successfully executed this type of work many times throughout the industry, giving us a well-established solution for maintaining critical subsea infrastructure. This project represents a major step towards establishing KOIL as the preferred provider of subsea umbilical maintenance services throughout the region."
The contract includes the re-termination and testing of umbilical elements including chemical injection and hydraulic control lines, as well as electrical cables. KOIL is utilizing proprietary methodology and specialized equipment to safely and efficiently perform the pull-in, removal, and replacement of new elements.
Planning, engineering, qualifications and procurement activities will be performed from KOIL's operational base in Macaé, Brazil, with engineering support provided from KOIL's Houston, Texas facility. The first offshore maintenance campaign is scheduled to commence during the fourth quarter of 2026.
KOIL has developed and refined industry-leading subsea umbilical maintenance technologies through the successful execution of numerous offshore campaigns around the world. Building on this proven technical foundation, the Company has established effective engineering processes, specialized tooling, and execution methodologies that enable operators to safely restore critical subsea infrastructure.
Upon successful completion of this campaign, KOIL believes significant opportunities exist for additional maintenance work both with the current operator and across the broader Brazilian offshore market.
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.
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:
ir@koilenergy.com
281-862-2201
