Houston-based subsea energy equipment and services specialist KOIL Energy Solutions has secured a project for umbilical handling, warehousing and subsea storage with an undisclosed company.
KOIL Energy has revealed the award of what it describes as a major subsea handling, warehousing and storage services project, which requires two large rotors. The company will deploy both its newly acquired large marine carousel and existing carousel assets to carry out the work.
Eric WickPresident and CEO of KOIL Energy commented: “This award is a pivotal moment for KOIL and further validates our strategy to scale our equipment rental and service platform. We have secured financing, acquired a new mobile carousel, and have already won its first contract, while also redeploying an underutilized carousel from our existing fleet.”
“We have been able to acquire what is essentially a new, ready-to-mobilize asset. This is a great opportunity for KOIL to expand our technical capabilities and accelerate our growth in equipment leasing and services across the global subsea market.”
The work will be carried out by the company’s service team during the second half of 2026, followed by long-term storage of the customer’s confidential system. The new 3,500 metric ton modular marine carousel is designed to be assembled on a ship.
This is seen as enabling rapid mobilization and redeployment to new project sites in the United States and internationally on short notice. KOIL announced a new credit facility last month, which will help finance the new assets and support the company’s broader equipment leasing investment plan.
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