KBC Advanced Technologies plc New Strategic Relationship and Contract Award (1858D)

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

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