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 total contract award to KBC is $100 million. The
contract will be delivered over four years, commencing this
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
"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