Significant Subsea Tie-Back Project Award
Koil Energy was awarded a significant subsea tie-back project in the Gulf of America, including subsea distribution equipment and commissioning services for a major international oil company.
Largest Greenfield Project in a Decade
Koil Energy secured a major international greenfield project, involving the design and manufacture of over 20 proprietary subsea flying leads, marking its largest project of this kind in nearly a decade.
Increase in Service Contract Revenue
Revenue from service contracts increased by 66% year-over-year, indicating a strong performance in this business segment.
Robust Sales Pipeline and Growth Outlook
Koil Energy reported a solid backlog and a strong sales pipeline, expecting improved financial performance in the second half of the year due to large project wins and a rise in global demand for subsea equipment and services.