The subsea technology solutions provider further diversifies its operations by supporting an inland military exercise
HOUSTON, (GLOBE NEWSWIRE) — Koil Energy Solutions, Inc. (Koil), formerly known as Deep Down, Inc. (OTCQB: DPDW), an international specialist in subsea energy equipment and services, today announced the receipt of an order to provide cable management services for a military project in the northern half of the United States.
“Expanding our cable management expertise beyond our traditional oil and gas business was a key plank of our strategic transformation,” said Charles Njuguna, President and CEO of Koil Energy Solutions, Inc. “This award validates this strategy and further demonstrates the total addressable market for our services.”
The project will require Koil to provide equipment and personnel for installation and recovery activities for fiberoptic cables and accessories, which will be used for military exercises in inland waterways.
“While our primary focus remains on the energy industry, being called upon to support such a project provides further validation of the applicability of our capabilities in other industries,” said Njuguna.
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 www.koilenergy.com to learn more.