London, UK and Singapore – (December 1, 2008) – KBC Advanced Technologies plc (KBC) announces capital project work on a major grassroots expansion for Hyundai Oilbank (HDO) in Korea.

KBC acts as technical consultant to Hyundai Oilbank on a multi-billion dollar upgrading complex in Daesan, Korea. On the current 10 month contract, KBC provides FEED (Front-End Engineering Design) supervision services for HDO.

KBC has contributed to the project from its inception. Our work began with Process Licensor and Long Lead Item Evaluation and Selection and PMC/FEED Contractor Evaluation and Selection. All of these services are part of the Capital Excellence (CapX) range of services provided by KBC.

About Hyundai Oilbank:
Hyundai Oilbank Co., Ltd. engages in refining and marketing petroleum products in South Korea. Its products include gasoline, diesel, kerosene, liquefied petroleum gas, bunker, benzene, paraxylene, low sulfur waxy residue, and jet fuel. The company also produces petrochemicals. Hyundai Oilbank Co., Ltd. was formerly known as Kukdong Oil Refining Co., Ltd. The company was founded in 1964 and is based in Daesan, South Korea.

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