KBC Advanced Technologies plc US$100 million Contract Award (8774T)
December 19 2012 - 2:00AM
UK Regulatory
TIDMKBC
RNS Number : 8774T
KBC Advanced Technologies plc
19 December 2012
Embargoed until 0700 hrs 19 December 2012
KBC Advanced Technologies plc ("KBC")
US$100 million new consulting and software contract
KBC has signed a major new contract with EP PETROECUADOR (the
integrated state national oil company of Ecuador) for the supply of
a Best Practices Plan for the Technical and Operating Sector of the
Esmeraldas Refinery in Ecuador over a period of four years. The
comprehensive programme of support includes the full range of KBC
services to improve the overall performance of this 110,000
barrels/day design capacity refinery, with a focus on margin
improvement and the capability of the workforce. As part of the
contract, EP PETROECUADOR will take a five year licence for KBC's
process and energy modelling software tools, including the full
Petro-SIM(TM) suite, to optimise the operation of the refinery.
KBC will work with EP PETROECUADOR, both directly and through a
major subcontractor, to improve its core work processes and support
systems, as well as develop the technical capability of the
workforce.
The total contract award by EPP to KBC is US$100m and the
contract will be delivered over four years commencing this month.
It is anticipated that significant elements of the technology
transfer package, including the Petro-SIM licences, will be
delivered in the early stages of the contract and delivery of
significant consulting milestones will take place within the first
12 months.
Ian Godden, KBC's Chairman, said today: "We are honoured to be
working in partnership with EP PETROECUADOR in its mission to
achieve best practice in its operations. This is a major new client
for us which expands our footprint in the South American region -
an important growth market for us. The award of this contract
significantly improves our work backlog into 2013 and beyond and
validates KBC's technology and service offering, which provides an
integrated solution to our oil and gas clients worldwide."
- Ends -
For further information, please contact:
KBC Advanced Technologies plc
Ian Godden, Chairman +44 (0)1932 236314
Caroline Brown, Chief Financial Officer +44 (0)1932 236314
Cenkos Securities plc
Bobbie Hilliam/Max Hartley/Callum Davidson +44 (0)20 7397 8900
Weber Shandwick Financial
Nick Oborne/Stephanie Badjonat/Robert Cook +44 (0)20 7067 0700
Notes to Editors:
KBC is a leading consultancy and software provider to the global
energy, process and natural resources sectors. With over 30 years
of experience, operating out of 14 global locations, KBC combines
best-in-class software with experienced engineers and operations
personnel using robust methodologies to create world class
solutions for its clients. 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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