In July, KBC was awarded a subcontract arrangement with SK Engineering and Construction associated with procurement and construction of a new refining and petrochemical complex to be built in the Manabi province of Ecuador. The facility is being built by Refineria del Pacifico (RDP), a joint venture between PetroEcuador and Petróleos de Venezuela S.A. (PdVSA). This is the second major for KBC associated with this particular project. The first involved a feasibility study and development of various scenarios. This second contract is to expand the development of the designs associated with the two selected scenarios to support budgets for capital construction. All such analysis was done using the KBC Process Simulation Software, Petro-SIM. The scope also included an assessment of environmental regulations to evaluate compliance with "equator principles." The RDP project is reflective of a number of new refinery construction projects in emerging market with the objective of satisfying local demand as well as capture export market share. Opportunities for feasibility studies, procurement and construction support, environmental impact assessments and regulatory reviews, operations and maintenance arrangements, and development of local workforce will remain robust in emerging markets.