Revolutionary Software Portfolio for the Oil & Gas Industry to be Revealed at AspenWorld 2004
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Sept. 15, 2004-- Aspen Technology, Inc. (Nasdaq: AZPN), today announced that a ground-breaking software portfolio for Enterprise Operations Management (EOM) in the oil & gas industry will be unveiled at AspenWorld 2004, October 10-15, 2004, in Orlando, Florida. This new offering addresses the key business areas in the oil & gas industry - including production facilities engineering, production asset management, and production portfolio management - and supports the industry's drive to maximize return on capital employed (ROCE).
AspenWorld 2004 features a comprehensive program focused on the issues and challenges facing the oil & gas industry. In addition to showcasing AspenTech's latest software for the upstream sector, the conference will also highlight the strategic alliance with Schlumberger Information Solutions, which is dedicated to delivering integrated asset modeling solutions for oil & gas companies.
Among industry leaders participating in the plenary session of the oil & gas track, "Up to the Challenge? Manage Oil & Gas Business and Engineering Decisions with Integrated Asset Models", are David Archer, President of the Petrotechnical Open Standards Consortium (POSC) and Andy Howell, Alliance Manager of Schlumberger Information Solutions. The plenary presentations will be followed by three sessions that explore the critical business processes in the oil & gas industry and review how an integrated asset model can be combined with existing upstream applications to help companies increase throughput, improve ROCE and boost engineering efficiency:
- From Facility to Asset Modeling in the Oil & Gas Business (Session 1) -- detailing technologies and solutions based on asset models and demonstrating how a modeling culture can provide huge benefits for upstream companies
- From Facility to Asset Modeling in the Oil & Gas Business (Session 2) -- building on the earlier session to introduce the exciting new area of integrated asset models, showing how facilities simulation can move to a higher domain
- The Digital Oil Field -- exploring the concept of the digital oil field, and examining how the industry can achieve this digital vision.
"Oil & gas production systems are complex to manage and difficult to optimize," said David McQuillin, President and CEO, AspenTech. "To maximize profitability, companies need to make the right investment decisions, and ensure their production assets are performing at the optimum level. AspenWorld 2004 will provide managers with an ideal opportunity to see how the digital revolution is transforming the way industry leaders address their business and operational challenges."
The oil & gas industry track is part of an AspenWorld 2004 (www.aspenworld2004.com) program which includes nearly 300 presentations from companies such as BP, ChevronTexaco, ExxonMobil, Shell and Total; a showcase of AspenTech's solutions for Enterprise Operations Management (EOM); and a conference agenda that offers opportunities for valuable discussions, learning experiences, and mixing with industry peers. To view the AspenWorld 2004 program and build your own agenda, visit www.aspenworld2004.com/myagenda/.
Aspen Technology, Inc. provides industry-leading software and implementation services that enable process companies to increase efficiency and profitability. AspenTech's engineering product line is used to design and improve plants and processes, maximizing returns throughout an asset's operating life. Its manufacturing/supply chain product line allows companies to increase margins in their plants and supply chains, by managing customer demand, optimizing production, and streamlining the delivery of finished products. These two offerings are combined to create solutions for enterprise operations management (EOM), integrated enterprise-wide systems that provide process manufacturers with the capability to dramatically improve their operating performance. Over 1,500 leading companies already rely on AspenTech's software, including Shell, BP, ChevronTexaco, ExxonMobil, Total, Aventis, Bayer, BASF, The Dow Chemical Company, DuPont, Fluor, and GlaxoSmithKline. For more information, visit www.aspentech.com.
AspenTech and the aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass.
Aspen Technology, Inc.
Robin Swanger, 281-504-3256
Aspen Technology, Inc.
Joshua Young, 617-949-1274