KBC Advanced Technologies plc (AIM:KBC) – nice contract award suggests life in oil and gas
The consultancy and software provider to the hydrocarbon industry has announced a material consulting contract award for a refinery group supporting the view that downstream oil and had gas activity is still alive and kicking
The three-year US$8.5m consulting contract is to assist a major Middle Eastern client with margin improvement and workforce capability development across three refineries. The award includes provision for a further US$2.4m of optional services. This follows on from a profit improvement programme for the same client in the late 1990’s with KBC now returning, with more sophisticated tools and a wider portfolio of capabilities, to assist in the identification of improvement opportunities. Management confirmed that despite the current uncertainty in the oil markets, the Group’s clients continue to invest in the downstream oil sector. With a supportive Balance Sheet…