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China HuanQiu Contracting and Engineering Corporation (HQC) Implements Aspen Technology Software to Maximize Safety, Throughput and Profitability

09/09/19

HQC Implements Aspen HYSYS® Dynamics Software in Pursuit of Asset Optimization

BEDFORD, Mass.--(BUSINESS WIRE)--Sep. 9, 2019-- Aspen Technology, Inc. (NASDAQ:AZPN), the asset optimization™ software company, today announced that China HuanQiu Contracting and Engineering Corporation (HQC), a wholly-owned subsidiary of China Petroleum Engineering Corp. Ltd., has implemented Aspen HYSYS Dynamics software to maximize safety, throughput and profits at the design phase of critical systems. The easy adoption of dynamic process simulation software advances HQC’s digital transformation journey to increase asset value and improve performance early in the asset lifecycle.

According to VP Zhang, HQC, “We have implemented Aspen Technology’s Aspen HYSYS Dynamics software to validate the natural gas liquefaction system and petrochemical process design of an owner-operator customer. With this implementation, HQC achieves an intelligent design, which enables optimization across multiple operating scenarios to maximize economic and safety outcomes. With the ability to offer advanced digital solutions to customers, HQC is in a strong position to pursue overseas market opportunities.”

Dr. Filipe Soares-Pinto, senior vice president, Aspen Technology’s Growth Markets added, “By digitally transforming the design phase of the asset lifecycle using aspenONE Engineering software, HQC is strengthening its market leadership, while becoming more responsive to its owner-operator customers. This will enable HQC to capture upside in the global engineering and construction industry.”

Aspen HYSYS Dynamics is process simulation software that makes it easy for plants to convert steady state process models into dynamic process simulation models to study time-dependent oil and gas processes, including gas processing, petroleum refining and petrochemical.

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About Aspen Technology
Aspen Technology (AspenTech) is a leading software supplier for optimizing asset performance. Our products thrive in complex, industrial environments where it is critical to optimize the asset design, operation and maintenance lifecycle. AspenTech uniquely combines decades of process modeling expertise with machine learning. Our purpose-built software platform automates knowledge work and builds sustainable competitive advantage by delivering high returns over the entire asset lifecycle. As a result, companies in capital-intensive industries can maximize uptime and push the limits of performance, running their assets safer, greener, longer and faster. Visit AspenTech.com to find out more.

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Source: Aspen Technology, Inc.

Aspen Technology, Inc.
Georgina Tan
AspenTech
+65 6395 3913
Georgina.Tan@aspentech.com