29th Apr 2015 09:02
LONDON (Alliance News) - KBC Advanced Technologies PLC Wednesday said it has signed a non-exclusive cooperation deal with Norway's Kongsberg Oil & Gas Technologies AS under which the pair will work on developing simulation software and more effective engineering and operations workflows for the oil and gas sector.
No financial details were disclosed.
"The market is demanding that oil and gas technology companies and suppliers develop innovative ways to create increased value in upstream field development planning, design and operations. With our combined technology suites and the depth in consulting capability of both of our strong brands, KBC and Kongsberg Oil and Gas together are uniquely positioned to deliver value and to support new ways to realise margin over field life," said KBC Chief Executive Andrew Howell.
Shares in KBC were trading flat at 96.00 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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