KBC has signed a new four-year contract with EP PETROECUADOR -- the integrated state national oil company of Ecuador -- to supply a best practices plan for the technical and operating sector of the Esmeraldas refinery in Ecuador, officials confirmed on Wednesday.
The comprehensive program of support includes a full range of KBC services to improve the overall performance of the 110,000 bpd refinery, with a focus on margin improvement and the capability of the workforce.
As part of the contract, EP PETROECUADOR will take a five-year license for KBC's process and energy modelling software tools, including the full Petro-SIM suite, to optimize the operation of the refinery.
KBC says it will work with EP, both directly and through a major subcontractor, to improve its core work processes and support systems, as well as develop the technical capability of the workforce.
The total contract award to KBC is $100 million. The contract will be delivered over four years, commencing this month.
KBC anticipates that significant elements of the technology transfer package, including the Petro-SIM licences, will be delivered in the early stages of the contract, and delivery of significant consulting milestones will take place within the first 12 months.
"We are honored to be working in partnership with EP PETROECUADOR in its mission to achieve best practice in its operations," said Ian Godden, KBC's chairman.
"This is a major new client for us which expands our footprint in the South American region -- an important growth market for us. The award of this contract significantly improves our work backlog into 2013 and beyond and validates KBC's technology and service offering, which provides an integrated solution to our oil and gas clients worldwide."