Koil Energy Solutions, Inc., formerly known as Deep Down, an international specialist in subsea energy equipment and services, announced the receipt of an order to provide cable termination services for a wave energy project.
“This award is another step in progressing our core competencies beyond our traditional lines of business in the oil and gas sector,” said Charles Njuguna, President and CEO of Koil Energy. “This wave energy opportunity highlights the transferability of our expertise to other energy sectors and provides further validation of our strategy to rebrand and reposition the Company as a leading provider of fully integrated solutions.”
The initial phase of the project is scheduled for the fourth quarter of 2022 with additional phases expected to be completed in 2023.