GP Strategies Awarded Five-Year Contract with Kuwait National Petroleum Company (KNPC) for Training Services
COLUMBIA, Maryland, Sept. 8, 2016 /PRNewswire/ -- Global performance improvement solutions provider GP Strategies Corporation (NYSE: GPX) announced today that it has entered into a multi- year agreement with Kuwait National Petroleum Company (KNPC) for training, documentation and competency development services to support KNPC's Clean Fuels Project. The value of this five-year agreement is KWD 10,894,969 (approximately USD $36 million).
KNPC's Clean Fuels Project is a large, strategic capital improvement project intended to upgrade KNPC's existing refinery infrastructure, enabling KNPC to supply products meeting the highest levels of quality and emissions reductions standards. The project aims at developing and expanding the Mina Al-Ahmad Refinery to refine 346,000 bpd, and the Mina Abdullah Refinery to refine 454,000 bpd. As a result, the capacity of the two refineries will be 800,000 bpd. GP Strategies' involvement includes developing and delivering documentation and training for the refineries' operations workforce to prepare them to operate the new and upgraded facilities and to support them through commissioning, initial startup, and sustained, long-term operations.
"We are excited to be selected as the successful bidder on this contract. We are committed to a successful, 5-year engagement with KNPC to support their workforce from commissioning through startup and in support of sustainable ongoing operations," said Karl Baer, Executive Vice President, Professional & Technical Services, GP Strategies. "We are extremely appreciative of the opportunity that KNPC, a global leading oil refinery company, has entrusted to GP Strategies."
About GP Strategies
GP Strategies Corporation is a global performance improvement solutions provider of training, eLearning solutions, management consulting and engineering services. GP Strategies' solutions improve the effectiveness of organizations by delivering innovative and superior training, consulting and business improvement services customized to meet the specific needs of its clients. Clients include Fortune 500 companies, manufacturing, process and energy industries, and other commercial and government customers. Additional information may be found at www.gpstrategies.com.
Forward-Looking Statement:
We make statements in this press release that are considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. These statements reflect our current expectations concerning future events and results. We use words such as "expect," "intend," "believe," "may," "should," "could," "anticipates," and similar expressions to identify forward-looking statements, but their absence does not mean a statement is not forward-looking. These statements are not guarantees of our future performance and are subject to risks, uncertainties, and other important factors that could cause our actual performance or achievements to be materially different from those we project. For a full discussion of these risks, uncertainties, and factors, we encourage you to read our documents on file with the Securities and Exchange Commission, including those set forth in our periodic reports under the forward-looking statements and risk factors sections. Except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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