KBC awards $5.12 million contract for upstream software

12/24/2014

KBC awards $5.12 million contract for upstream software

SURREY, England -- KBC Advanced Technologies has announced a seven year contract with a major European based oil field services company for the licensing of KBC’s upstream simulation portfolio.

This contract covers Maximus, Multiflash and Petro-SIM for use by the client in oil and gas engineering projects and studies and reflects the value in KBC’s suite of technology from reservoir chemistry through well bore and pipeline modelling to process facilities simulation.

The contract is worth $5.12 million (£3.3 million) to KBC over a seven year period and combines the newly acquired (July 2014) FEESA Maximus technology for well bore and pipeline modelling with KBC’s Multiflash and Petro-SIM software. Multiflash was acquired with the Infochem acquisition in June 2012 and is the standard used by an expanding number of oil and oil field service companies. The contract is also for a substantial number of Petro-SIM licenses for use in life of facility and production optimisation analysis by the client.

Andrew Howell, MD of Technology and CEO designate, commented, “The contract win follows a number of other technology contract awards of note in the fourth-quarter in the United States, Thailand and Vietnam.”

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