15th Jul 2014 07:58
LONDON (Alliance News) - KBC Advanced Technologies PLC said Tuesday it has won a five-year software contract with an unnamed South America-based energy company.
Under the terms of the contract, which constitutes a renewal, extension and expansion of an existing licence, KBC will expand the licence of its refinery-wide simulation software suite, Petro-SIM and the associated SIM-suite reactor models, to the refinery business that the energy company owns and operates.
Last month the company strengthened its ties with Kongsberg Gruppen ASA, after the Norwegian technology group bought into KBC as part of KBC's recent share placing. The companies will collaborate on improving production services for oil and gas exploration and production operators.
Shares in KBC Advanced Technologies were trading 2.61% higher at 125.70 pence per share Tuesday morning.
By Alice Attwood; [email protected]; @AliceAtAlliance
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