Summary：KOIL Energy Wins Lucrative Contract, Revolutionizing Operations with Carousel RevampHOUSTON, June 11

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KOIL Energy Wins Lucrative Contract, Revolutionizing Operations with Carousel Revamp

HOUSTON, June 11, 2026 (GLOBE NEWSWIRE) -- KOIL Energy Solutions Inc. (OTCQB: KLNG), a leading international provider of subsea equipment and services, has secured a major contract for subsea umbilical handling, spooling, and storage services, marking a significant milestone in the company's history. The contract award is a testament to KOIL Energy's expertise and capabilities in delivering complex subsea projects.

The contract involves a comprehensive revamp of the client's carousel system, a critical component in subsea umbilical management. KOIL Energy's team of experts will undertake the upgrade, leveraging cutting-edge technology to enhance the efficiency and safety of the client's operations. The carousel revamp is expected to significantly improve the client's ability to handle and deploy subsea umbilicals, a crucial aspect of offshore oil and gas production. The project is valued at several million dollars and is expected to be completed within the next 12 months.

The subsea industry is witnessing a resurgence in activity, driven by the increasing demand for energy and the need to optimize existing resources. KOIL Energy's contract win is a reflection of this trend, as operators seek to improve the efficiency and reliability of their subsea infrastructure. The company's expertise in subsea umbilical handling and storage services positions it well to capitalize on this growth.

As the energy industry continues to evolve, companies like KOIL Energy are poised to play a critical role in shaping the future of subsea operations. With its proven track record and commitment to innovation, KOIL Energy is well-positioned to deliver value to its clients and drive growth in the subsea sector. The successful execution of this contract is expected to further enhance KOIL Energy's reputation as a trusted partner in the industry.

In conclusion, KOIL Energy's contract win is a significant development for the company and the subsea industry as a whole. The carousel revamp project is a testament to KOIL Energy's capabilities and expertise, and its successful execution is expected to drive growth and innovation in the sector. As the energy industry continues to navigate the complexities of subsea operations, companies like KOIL Energy will remain at the forefront of delivering cutting-edge solutions.