AspenTech Enables Faster Decision-Making for Oil & Gas Assets in New Release of aspenONE(R) Software
WASHINGTON, May 25, 2011 (BUSINESS WIRE) -- Aspen Technology, Inc. (NASDAQ: AZPN) a leading provider of software and services to the process industries, today introduced Aspen Conceptual Design Builder (Aspen CDB) software that optimizes many aspects of upstream production facilities. A key component of Aspen HYSYS(R) Upstream in the latest release of aspenONE software, this innovative modelling tool enables rapid development and cost screening of new design alternatives to improve enterprise decision making for oil & gas assets.
- The patent-pending Aspen CDB reduces the risk associated with developing an upstream asset, and optimizes the transfer of Conceptual to Front-End Engineering Design across organizations and functions. This is achieved by establishing a consistent, streamlined, and collaborative approach to design and decision making processes, while minimizing project schedules and engineering man-hours.
- Using Aspen CDB software, multiple design scenarios can be studied throughout an asset's entire operational life cycle such as production capabilities, energy consumption, emissions output, and the associated capital and operating expense analysis. This allows each development strategy to be evaluated for technical and commercial feasibility, as well as early identification of project risks, which helps companies achieve higher return on investment.
- Aspen CDB rapidly generates detailed Aspen HYSYS simulation case files for each design scenario, reducing the time to build a detailed Aspen HYSYS simulation model from days to minutes. Engineers can calculate appropriate equipment sizes and weights to create more accurate and consistent economic evaluation of the proposed conceptual designs.
- Other enhancements to Aspen HYSYS make it easier to calculate Green House Gas (GHG) emissions to help evaluate overall compliance with regulations. Additionally, using new methods for treating acid gases to remove CO2 and H2S using rate-based distillation and amines are available, as well as a more streamlined way to characterize reservoir fluids.
- Aspen CDB is a key component of aspenONE Engineering software suite, an integrated lifecycle solution -- from conceptual design through to plant start-up and operations support -- enabling process engineers to model, build, and operate safer, competitive, more reliable process plants.
John Hargreaves, Chief Process Engineer, Wood Group PSN
"Our study managers and engineers are always looking for innovative solutions to build on our capabilities in Conceptual and Front End Engineering Studies for our clients. Seeing these capabilities integrated into the HYSYS product suite will help us review more options and maintain best practices at the onset of projects."
Vikas Dhole, Vice President Engineering Product Management, AspenTech
"The upstream business operates in an incredibly challenging and highly capital intensive environment. Owner operators need to make sound judgments on design options for their asset investment decisions. Aspen Conceptual Design Builder gives customers a competitive advantage in this highly volatile market, allowing them to automate and accelerate vital business processes."
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AspenTech is a leading supplier of software that optimizes process manufacturing - for energy, chemicals, pharmaceuticals, engineering and construction, and other industries that manufacture and produce products from a chemical process. With integrated aspenONE solutions, process manufacturers can implement best practices for optimizing their engineering, manufacturing and supply chain operations. As a result, AspenTech customers are better able to increase capacity, improve margins, reduce costs and become more energy efficient. To see how the world's leading process manufacturers rely on AspenTech to achieve their operational excellence goals, visit www.aspentech.com.
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SOURCE: Aspen Technology, Inc.