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 October 23, 2015 - 5:46 AM EDT
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Advisian and KBC Enter into a Strategic Relationship

Advisian and KBC have entered into a strategic relationship to create greater value in the hydrocarbons sector.

Advisian, the independent consulting business line of WorleyParsons (ASX:WOR), and KBC Advanced Technologies plc (“KBC”), a leading consultancy and software provider to the hydrocarbon industry, are pleased to announce that they have entered into a joint collaboration agreement to utilize the strengths of each company and their affiliates to pursue projects involving consulting, software, design and engineering services, initially for the upstream and midstream oil and gas, refining and petrochemical business sectors. KBC’s technical engineering and operational excellence skills complement Advisian in a number of key areas that will create additional value for our clients. This extends worldwide the successful relationship developed between KBC and WorleyParsons in Asia since 2009.

To accelerate this joint collaboration, Advisian is pleased to announce the award of a global five year, US$4.36m technology contract for KBC’s Petro-SIMTM, MaximusTM and MultiflashTM software. Advisian believes technology is, and will continue to be, a critical edge in delivering value to oil and gas clients and this contract consolidates a number of KBC product licenses into a much larger global deal. The adoption of KBC’s engineering simulation software in reservoir PVT, production and process facilities modelling is a key step in strengthening the relationship between the two companies.

KBC is a leading consultancy and software provider to the global hydrocarbon processing industry. With over 35 years of experience, KBC combines industry leading technology with experienced engineers and operations personnel using robust methodologies to create personalised, sustainable solutions for its clients.

Dennis Finn, Advisian CEO, said “We are very excited to be further strengthening our relationship with KBC. Advisian and KBC share a similar vision on the role that technology plays in the hydrocarbons sector and I believe that our combined consulting forces have the power to further enhance the value that we deliver to our clients.”

Andrew Howell, KBC CEO, added “This is an exciting moment for KBC with the opportunity to strengthen our already important relationship with Advisian and the broader WorleyParsons Group and we are also pleased to be awarded this key software contract. This reflects the vision that Advisian has on the role technology and consulting will play in helping the oil industry through the current climate and back to increasing profits.”

Both Advisian and KBC consider this an important strategic milestone in their relationship.

About Advisian:
Advisian is a unique consulting firm, differentiated by our global reach, deep technical knowledge and ability to implement the advice we provide. We operate in the Hydrocarbons, Infrastructure, Minerals and Metals and Chemicals sectors. We offer a comprehensive combination of strategic management advice, deep domain knowledge and unparalleled technical know-how to deliver implementable solutions. Our extensive network of consultants gives us the strength to create extraordinary value for our clients right across the value chain of any asset intensive business or project, anywhere in the world. We first advise, then go on to deliver extraordinary outcomes based on that advice.

About WorleyParsons

WorleyParsons delivers projects, provides expertise in engineering, procurement and construction and offers a wide range of consulting and advisory services. We cover the full lifecycle, from creating new assets to sustaining and enhancing operating assets, in the hydrocarbons, mineral, metals, chemicals and infrastructure sectors. Our resources and energy are focused on responding to and meeting the needs of our customers over the long term and thereby creating value for our shareholders.

WorleyParsons is listed on the Australian Securities Exchange [ASX: WOR].

For further information, please contact:
Fran VanReyk, +61 2 8456 7256
Director Investor Relations and Group Communications

Source: Business Wire (October 23, 2015 - 5:46 AM EDT)

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