KBC Advanced Technologies plc Strategic Relationship
June 18 2014 - 2:00AM
RNS Non-Regulatory
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KBC Advanced Technologies plc
18 June 2014
18 June 2014
KBC Advanced Technologies plc ("KBC" or the "Company")
Strategic relationship
KBC Advanced Technologies plc, a leading provider of consulting
and software solutions to the hydrocarbon processing industry, and
Kongsberg Gruppen ASA ("Kongsberg") are delighted to announce that
they will collaborate more closely in a number of key areas focused
on improving production solutions for upstream operators. To
reinforce the relationship, Kongsberg made an investment in the
recent KBC share placing to demonstrate that they find KBC's growth
strategy in upstream oil and gas appealing.
With their existing solutions for process simulation, flow
assurance, thermodynamics and production assurance, Kongsberg and
KBC will be able to offer a more comprehensive lifecycle solution
from concept selection to hydrocarbon transport systems. Kongsberg
believes that KBC's approach for flow assurance thermodynamics will
be supported by the industry at large and sees that the new
investments KBC has made to integrate with reservoir and production
technology over time are key to changing industry dynamics.
Kongsberg is eager to support this integration strategy of process
facilities to subsurface and surface production systems technology
and this aligns directly with their own strategy
"The relationship between Kongsberg and KBC will ensure more
open collaboration in the upstream oil and gas industry where KBC
recognises that Kongsberg's existing Lifecycle Simulation approach
creates a strong base from which to deliver more complete
solutions" commented Andrew Howell,. Managing Director, Technology
at KBC.
"Both companies bring significant consulting capability in
technical and operational excellence which will be strengthened to
empower oil and gas companies to achieve top level performance in
human and asset capital" added Jon Starkebye, Senior Vice President
Software & Services, Kongsberg Oil & Gas Technologies.
Whilst it is important for both companies to remain as
independent technology and service providers for all oilfield
service companies and to work with all of them to deliver value to
the operators, Kongsberg recognises the value that KBC has been
able to deliver in the downstream refining and petrochemical market
segments for many decades and looks forward to working with KBC to
recreate similar value for upstream operations.
- ENDS -
For further information, please contact:
KBC Advanced Technologies plc
Ian Godden, Chairman +44 (0)1932 236314
Cenkos Securities plc
Bobbie Hilliam/Harry Pardoe +44 (0)20 7397 8900
Weber Shandwick Financial
Nick Oborne/Stephanie Badjonat +44 (0)20 7067 0000
About KBC:
KBC, listed on the AIM market of the London Stock Exchange, is a
leading consultancy and software provider to the global hydrocarbon
processing industry. With over 30 years of experience, KBC combines
industry leading technology with experienced engineers and
operations personnel using robust methodologies to create
personalised, sustainable solutions for its clients. For more
information, visit www.kbcat.com.
About Kongsberg:
Kongsberg Gruppen ASA, an Oslo listed company, is an
international, knowledge-based group that supplies high-technology
systems and solutions to customers in the oil and gas industry, the
merchant marine, and the defence and aerospace industries. For more
information, visit www.kongsberg.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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