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KBC, a leading provider of consulting and software solutions to the hydrocarbon processing industry, and Kongsberg Gruppen ASA are delighted to announce that they will collaborate more closely in a number of key areas focused on improving production solutions for upstream operators. To reinforce the relationship, Kongsberg made an investment in the recent KBC share placing to demonstrate that they find KBC's growth strategy in upstream oil and gas appealing.

With their existing solutions for process simulation, flow assurance, thermodynamics and production assurance, Kongsberg and KBC will be able to offer a more comprehensive lifecycle solution from concept selection to hydrocarbon transport systems. Kongsberg believes that KBC's approach for flow assurance thermodynamics will be supported by the industry at large and sees that the new investments KBC has made to integrate with reservoir and production technology over time are key to changing industry dynamics. Kongsberg is eager to support this integration strategy of process facilities to subsurface and surface production systems technology and this aligns directly with their own strategy.

"The relationship between Kongsberg and KBC will ensure more open collaboration in the upstream oil and gas industry where KBC recognizes that Kongsberg's existing Lifecycle Simulation approach creates a strong base from which to deliver more complete solutions" commented Andrew Howell, Managing Director, Technology at KBC.

"Both companies bring significant consulting capability in technical and operational excellence which will be strengthened to empower oil and gas companies to achieve top level performance in human and asset capital" added Jon Starkebye, Senior Vice President Software & Services, Kongsberg Oil & Gas Technologies.

Whilst it is important for both companies to remain as independent technology and service providers for all oilfield service companies and to work with all of them to deliver value to the operators, Kongsberg recognizes the value that KBC has been able to deliver in the downstream refining and petrochemical market segments for many decades and looks forward to working with KBC to recreate similar value for upstream operations.