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- LONDON, UK and HOUSTON, TX, December 15, 2005 - SINOPEC awarded this contract for consulting in all operating areas, incorporating programs in yield and energy improvement, operations planning, as well as equipment reliability and maintenance. And, as an integral part of this project, SINOPEC licenses KBC's proprietary simulation software, Petro-SIM , and a full range of Profimatics process unit models for use at their Zhenhai and Yanshan refining and petrochemical facilities.
The contract is valued in excess of $11m over 30 months, with work commencing immediately. This agreement further strengthens KBC's relationship with SINOPEC, and builds on another recent award of a contract for KBC's proprietary Deepcut vacuum distillation technology for SINOPEC's grassroots Qingdao refinery complex.
George Bright, KBC's Chief Operating Officer, remarked, "We are delighted that SINOPEC has awarded this prestigious contract to KBC. We will be working in full partnership with SINOPEC, and both parties are looking forward to achieving significant operating improvement through the implementation of KBC's best practices program."
About SINOPEC:
China Petroleum and Chemical Corporation ("Sinopec Corp.") is an integrated energy and chemical company with upstream, midstream and downstream operations, headquartered in Beijing. Its major physical assets are located in South East China (its principal market), an area that has experienced the highest economic growth in China. The principal operations of Sinopec Corp. and its subsidiaries include: exploring, developing, producing and trading crude oil and natural gas, processing crude oil into refined oil products: producing, trading, transporting distributing and marketing refined oil products and producing and distributing chemical products. Based on 2004 turnover, Sinopec Corp. is the largest listed company in China. The Company is one of the largest petroleum and petrochemical companies in China and Asia. It is also one of the largest gasoline, diesel and jet fuel and other major chemical product producers and distributors in China and Asia.
KBC Advanced Technologies plc, a leading independent process engineering consultancy, delivers improved profitability through consulting services and practical solutions to owners and operators in the oil refining, petrochemical and processing industries worldwide. KBC provides process consulting, strategic planning advice, petroleum and chemical price forecasting, economic studies, and capital project reviews 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 to assist clients in realizing these improvements. In carrying out this work, KBC makes extensive use of 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
www.kbcat.com.
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Press Release Keywords:- awards, business, china, consulting, contracts, energy, engineering, gas, hydrocarbons, international, oil, petrochemicals, petroleum, plants, refining
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