KBC named as sub-contractor
September 15 2009 - 2:00AM
UK Regulatory
TIDMKBC
RNS Number : 0412Z
KBC Advanced Technologies plc
15 September 2009
15 September 2009
KBC Advanced Technologies plc
("KBC")
KBC named as sub-contractor on Vietnam oil refinery contract
In our half-year results statement made in early September this year, reference
was made to an improving sales pipeline and further opportunities that were
expected to close later this year. We are now pleased to announce the first of
these contracts.
It was announced earlier today in Vietnam that SK Energy Co. Ltd had been
awarded the contract for operation and maintenance of the 130,000 barrel per day
oil refinery at Binh Son (previously known as Dung Quat Refinery) owned by Binh
Son Refining and Petrochemical Co Ltd a subsidiary of PetroVietnam, with KBC as
a named subcontractor. The main contract encompasses all aspects of the running
of this new oil refinery. KBC will provide personnel for key management
positions and will train refinery personnel on refinery operations and site
optimization.
Contract completion is expected in the next two weeks, with personnel
mobilization occurring shortly thereafter. KBC will embed key refinery
management personnel on the site for a period of up to 30 months and the total
value of the contract to KBC is expected to exceed US$9 million.
Regional demand has led to continued new oil refinery construction in South East
Asia, in spite of the global reduction in oil demand. This is part of the trend,
identified in our last results statement, of ongoing investment in the refining
industry in parts of the world where there is growth in oil product demand,
which we believe will drive further demand for our services.
Enquiries:
+---------------+---------------+
| KBC | |
| Advanced | |
| Technologies | |
| plc | |
+---------------+---------------+
| George | 01932 236314 |
| Bright, | |
| Chief | |
| Executive | |
| Nicholas | |
| Stone, | |
| Operations | |
| and | |
| Finance | |
| Director | |
+---------------+---------------+
| Weber | |
| Shandwick | |
| Financial | |
+---------------+---------------+
| Nick | 020 7067 0700 |
| Oborne/Clare | |
| Thomas | |
+---------------+---------------+
| Arbuthnot | |
| Securities | |
+---------------+---------------+
| James | 020 7012 2000 |
| Steel/Antonio | |
| Bossi/John | |
| Prior | |
+---------------+---------------+
Notes to Editors:
For 30 years KBC's consultants have provided independent strategic and
engineering expertise to enable leading companies in the global energy business
and other process industries to manage risk while maximising value from their
assets.
In times of economic uncertainty and increasing environmental pressure, KBC's
proprietary methodologies and innovative tools guide clients' key strategic
decisions, enabling them to prioritise and implement initiatives that maximise
return on investment, and improve operational performance.
KBC's services include:
* Strategic Consulting - providing strategy support to our clients, comprising
market forecasting, business analysis, M&A support, and feasibility and
definition studies.
* Operational Excellence ("OpX") - helping clients to ensure that their facilities
are operated in a safe, environmentally acceptable and profitable manner. The
service covers planning and scheduling, reliability and maintenance, safety,
health and environment, leadership development, human performance and continuous
improvement.
* Capital Excellence ("CapX") - providing design and project management support
for new and brown field projects from concept through to start-up.
For more information, visit www.kbcat.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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