London, UK, and Houston, TX (PRWEB) January 25, 2006
KBC announces additional contract awards and return to profitability in the last quarter of 2005. Significant growth in contract awards and the forward order book drove an increase in trading activities.
The most significant recent award is the $11M contract, announced in November 2005, with SINOPEC in China. Several other material awards, which are indicative of the improving market for KBC’s enhanced products and services, include:
- Licenses for Petro-SIM software and SIM models for Cosmo Oil’s four refineries and head office in Japan. This complements the continuing Profit Improvement Programs executed by KBC at the Cosmo refineries.
- A redesign and upgrade of Belgian Refining Corporation’s crude oil vacuum unit. This project enables increased production of high value products and reduced production of low value fuel oil. KBC completed the feasibility study and basic engineering; we are now leading the detailed engineering phase.
- Technical service support at Nerefco. The provision of technical service support covering technical, operations, reliability, and maintenance functions in 2006 for the Nerefco refinery at Europoort in The Netherlands. Nerefco is a joint venture between bp (69%) and Texaco (31%).
- Operational excellence at Sasol. The implementation of operational excellence within production planning and scheduling for Sasol Synfuels in South Africa entails developing planning processes, creating a broader awareness within the planning team of the business drivers, and upgrading the planning systems to better reflect these business drivers. This project is a part of a broader, multi-year operational excellence initiative across Sasol site operations.
Signed contracts in the order book average anywhere from a few months in duration to three years. Revenue from these projects is expected to be around $28.6M (£16m) in 2006, with the balance running into 2007 and beyond. We are confident that the strengthened order book, together with the opportunities for further contract wins in the current market environment, should ensure that the improved trading performance continues in 2006.
KBC Advanced Technologies plc, a leading independent oil and energy industry process engineering consultancy, delivers improved operating performance to owners and operators in the oil refining, petrochemical and other process industries worldwide. KBC provides process consulting, strategic planning advice, petroleum and petrochemical price forecasting, economic studies, and capital project services to help clients find the most cost- effective way to achieve their short- and long-term objectives. KBC analyzes plant operations and management systems, recommends changes for material and measurable improvements in profitability, and provides implementation services and solutions to assist clients in realizing these improvements. In carrying out this work, KBC makes extensive use of Petro-SIM, its proprietary refinery-wide simulation and process modeling technology. Formed in 1979, KBC has principal offices in the UK, USA, Singapore, Japan, Russia, and the Netherlands. For more information, visit http://www.kbcat.com.
Contacts for KBC Advanced Technologies plc:
Tel: +1 281 293 8200
Tel: +44 (0)1932 236314
Petro-SIM is a registered trademarks of KBC Advanced Technologies plc
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