KBC Advanced Technologies plc New Strategic Relationship and Contract Award (1858D)
October 23 2015 - 2:00AM
UK Regulatory
TIDMKBC
RNS Number : 1858D
KBC Advanced Technologies plc
23 October 2015
Embargoed until 0700 hrs 23 October 2015
KBC Advanced Technologies plc
("KBC")
KBC and Advisian enter into a new strategic relationship to
create greater value in the hydrocarbons sector accelerated by the
award to KBC of a US$4.36m software contract
KBC Advanced Technologies plc, a leading consultancy and
software provider to the hydrocarbon industry, is pleased to
announce that it has entered into a joint collaboration agreement
with Advisian, the independent consulting business line of
WorleyParsons, to utilise the strengths of each company and their
affiliates to pursue projects involving consulting, software
implementation, design and engineering services, initially for the
oil and gas, refining and petrochemical business sectors.
Advisian's advisory, technical and project management skills
complement KBC in a number of key areas that will create additional
value for our clients. This extends worldwide the successful
relationship developed between KBC and WorleyParsons in Asia since
2009.
To accelerate this joint collaboration, KBC is pleased to
announce that WorleyParsons' Advisian has awarded KBC a global five
year, US$4.36m technology contract for KBC's Petro-SIM(TM) ,
Maximus(TM) and Multiflash(TM) software. Advisian believes
technology is, and will continue to be, a critical edge in
delivering value to oil and gas clients and this contract
consolidates a number of KBC product licences into a much larger
global deal. The adoption of KBC's engineering simulation software
in reservoir PVT, production and process facilities modelling is a
key step in strengthening the relationship between the two
companies.
Advisian is the combination of all of WorleyParsons' consulting
capability, brought together under one brand that operates in the
hydrocarbons, infrastructure, minerals and metals and chemicals
sectors. It is a unique consulting firm, differentiated by its
global reach, deep technical knowledge and ability to implement the
advice they provide. With over 3,000 consultants in 19 countries,
Advisian combines strategic management advice and deep domain
knowledge which complements KBC's industry leading technology to
deliver implementable and sustainable solutions.
Dennis Finn, Advisian CEO, said "We are very excited to be
further strengthening our relationship with KBC. Advisian and KBC
share a similar vision on the role that technology plays in the
hydrocarbons sector and I believe that our combined consulting
forces have the power to further enhance the value that we deliver
to our clients."
Andrew Howell, KBC CEO, added "This is an exciting moment for
KBC with the opportunity to strengthen our already important
relationship with Advisian and the broader WorleyParsons Group and
we are also pleased to be awarded this key software contract. This
reflects the vision that Advisian has on the role technology and
consulting will play in helping the oil industry through the
current climate and back to increasing profits."
Both Advisian and KBC consider this an important strategic
milestone in their relationship.
- Ends -
For further information, please contact:
KBC Advanced Technologies plc +44 (0)1932 236314
Andrew Howell, Chief Executive Officer
Eric Dodd, Chief Financial Officer
Cenkos Securities plc
Bobbie Hilliam/Harry Pardoe +44 (0)20 7397 8900
Weber Shandwick Financial
Nick Oborne/Tom Jenkins +44 (0)20 7067 0000
About KBC:
KBC 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. To contact any of our offices,
please visit http://www.kbcat.com/locations.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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