KOIL Energy Expands Operations with New Facility in Brazil

KOIL Energy Expands Operations with New Facility in Brazil

KOIL Energy Solutions, Inc. (OTCQB: KLNG), a prominent leader in providing controls infrastructure for subsea oil and gas fields, is excited to share its recent expansion into Brazil. This significant milestone marks the establishment of a new technology center specifically designed for manufacturing and service support operations in Macaé.

New Facility Unveiled in Macaé

Erik Wiik, the President and CEO of KOIL Energy, expressed how Macaé symbolizes a thrilling new chapter for the company as it enters Brazil, recognized as the world's largest subsea market. He highlighted the strategic importance of this facility in the company's growth strategy and conveyed gratitude for the robust partnerships formed with local customers and suppliers.

Macaé, affectionately dubbed "Cidade do Petróleo" or City of Oil, is the heart of Brazil's offshore petroleum industry. Here, KOIL Energy has leased an impressive 180,000 square foot property. This location features a workshop of 27,000 square feet, dedicated to engineering, manufacturing, testing, and providing service support activities.

Supporting Brazil's Ambitious Oil Production Goals

According to Gustavo Goncalves, Managing Director of KOIL Energy in Brazil, the company's decision to prioritize Brazil aligns with the nation’s ambitious goal of securing a spot among the top five oil producers globally by the year 2030. He emphasized how KOIL's diverse product portfolio is ideally positioned to aid Brazilian operators in navigating and leveraging this dynamic growth journey.

Establishment of the Brazilian Subsidiary

The newly created KOIL Energy Solutions Brasil LTDA serves as the legal entity for the company’s operations in Brazil. While the head office remains in Houston, Texas, the establishment of a local subsidiary reflects the company’s commitment to fostering close relationships and effective operations within the Brazilian market.

About KOIL Energy Services

Founded in 1997, KOIL Energy has established itself as a premier energy services company, delivering subsea equipment and support services essential to energy and offshore industries worldwide. With a team of world-class experts in engineering and manufacturing, KOIL Energy aims to tackle complex challenges with innovative and forward-thinking solutions.

The company is dedicated to enhancing the future of energy through fearless commitment and getting things done right, no matter where in the world the projects are located. By leveraging its experience in subsea engineering, manufacturing, installation, commissioning, and maintenance, KOIL Energy continues to spearhead advancements in the industry. For more information, feel free to visit www.koilenergy.com.

Frequently Asked Questions

1. What is the purpose of the new facility in Brazil?

The new facility in Macaé is designed for manufacturing and service support tailored for subsea oil and gas operations, helping KOIL Energy expand its market presence.

2. How does this expansion impact KOIL Energy's growth strategy?

This expansion is vital for KOIL Energy’s growth strategy as it positions the company to tap into Brazil's booming subsea oil market, enhancing its global operations.

3. What roles will the new facility play in the industry?

The facility will focus on engineering, manufacturing, testing, and service support, vital for responding effectively to customer needs in the energy sector.

4. Who is overseeing the operations in Brazil?

Gustavo Goncalves has been appointed as the Managing Director of KOIL Energy’s operations in Brazil, ensuring smooth execution of their strategic initiatives.

5. How can customers learn more about KOIL Energy's services?

Customers can visit KOIL Energy's official website at www.koilenergy.com to explore their full range of energy solutions and services.

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