Koil Energy to Provide LNG Energy Services in the Gulf of Mexico
Koil Energy Solutions, Inc. (OTCQB: KLNG), an international specialist in subsea energy equipment and services, today announced the receipt of an order to provide services for an LNG project in the Gulf of Mexico.
The first phase is for installation engineering services, with potential future scopes expected to include custom designed installation equipment, flowline transpooling services and later, a potential long-term service agreement in support of various offshore operations.
“As we continue to extend the reach of our core competencies beyond our traditional offerings, this award is one step further in our efforts to bridge the gap between traditional oil and gas and new forms of energy,” said Charles Njuguna, President and CEO of Koil Energy Solutions, Inc. “We continue to view ourselves as an energy-source agnostic service provider without differentiating our business between traditional and renewable energy.”
While the initial phases of the project are expected to be executed within the first half of 2023, discussions are ongoing for a multi-year service agreement similar to existing agreements the company has with major oil and gas operators.
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