HOUSTON, March 01, 2022 (GLOBE NEWSWIRE) -- Koil Energy, an international leader and provider of full cycle subsea technology solutions, has rebranded from Deep Down, Inc. The shift, announced today at Subsea Tieback Forum and Exhibition in Galveston, Texas, highlights the company’s goal to energize the future of the subsea energy sector while preserving a standard of creative solutions developed over the years.
“Koil Energy may be a new name, but our DNA remains the same. For the past 25 years, customers have come to depend on us not only for our results and reliability, but our fearless drive to solve complex problems with never-before-seen solutions for the toughest deepwater challenges,” said Charles Njuguna, President and CEO of Koil Energy. “As our customers expand their horizons beyond traditional oil and gas, this move is a charge into a new era, with a steadfast commitment to what we pride ourselves on, nimbly finding unique ways to enhance offshore energy operations.”
The company’s core offering has historically revolved around the subsea umbilicals, risers and flowlines (SURF) sector of the oil and gas industry. Core products include the company’s patented flying leads, multi quick connector systems including a 20,000psi version under development, riser isolation valve systems, intervention equipment, and a range of umbilical terminations and accessories. This is in addition to a full suite of offshore installation equipment, as well as umbilical services such as installation testing and monitoring, commissioning, and life of field remediation solutions.
The Koil Energy team’s reputation for never shying away from nebulous needs has enabled the company to garner a roster of clientele from across the globe and is increasingly being sought by renewable energy participants looking to benefit from this extensive experience. The company’s unique spooling expertise is also increasingly featuring in discussions about management of offshore wind cables. This is aside from discussions around various subsea storage technologies, marinization of new technologies, and even utilizing some of the company’s core competencies for hydrogen applications.
Furthermore, Koil Energy distinguishes itself by supporting the full life cycle of a project, from design and engineering, to manufacturing, installation, maintenance, and asset life extension.
Njuguna added, “I truly believe our success is directly attributed to the fact that we have the most experienced and dependable personnel in the industry. Our new identity as Koil Energy combines our history as the team who can handle 60 miles of umbilicals as flawlessly as you would coil up an extension cord in your backyard, with an inextinguishable passion to provide the most innovative solutions for future sources of energy, the most efficient and reliable equipment, and best in class returns for our shareholders. We are excited to see what the future holds in the rapidly changing energy space, especially as it applies to offshore operations and subsea technologies.”
The company has also recently announced that it will be moving its base of operations to a new facility better equipped to handle the diverse offerings of the team located in Houston, TX. Koil Energy has hit the ground running with its new identity and more announcements are coming soon as they energize the future in 2022.
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.
Media Contact:
Hunter Dodson
Pierpont Communications
512-914-6745
hdodson@piercom.com
