Alliance partners present ground breaking new production optimization solution for increasing oil and gas production to the world's leading exploration & production companies
ORLANDO, FL - Aspen Technology, Inc. (AspenTech) and Schlumberger Information Solutions (SIS), the respective market leaders in process and reservoir engineering software, today demonstrated the implementation of a joint Asset Optimization solution that combines components from SIS production engineering software products and aspenONE for Oil and Gas.
This is an important step in subsurface-to-surface coupling that is part of the drive to deliver a major change in production optimization from field wide solutions.
The new Asset Optimization solution demonstrated today at AspenWorld 2004 in Orlando enables closed loop gas-lift optimization using the SIS PIPESIM production system analysis software and AspenTech's HYSYS process simulation technology integrated within the aspenONE Open Simulation Environment (previously Aspen AssetBuilder). Complex surface separation and compression facilities now can be matched to required subsurface gas-lift injection rates for artificially lifted wells to continuously maximize oil production rates from existing assets.
"Today we are demonstrating the first in a series of revolutionary new integrated solutions with AspenTech to help the industry achieve the ifield vision from the reservoir through the processing facilities," said Kjell-Erik Ostdahl, president, SIS. "Our recently announced strategic alliance bridges the historic gap between reservoir and surface facilities, and addresses the needs of our E&P customers to optimize their production operations and field development plans by ienabling the oil field."
The next phase of solution development will couple the SIS ECLIPSE reservoir simulator with the integrated asset model for reservoir management and optimization.
"We have already made significant progress in the first few months of the alliance with Schlumberger Information Solutions," said David McQuillin, president and CEO, AspenTech. "This alliance is delivering our joint response to the market need to bring the optimization technology, widely used in the petroleum downstream process industry, and available through our aspenONE for Oil and Gas solution into the Schlumberger oilfield domain. Our alliance with SIS will provide customers with a portfolio of new solutions, using a common environment with shared data models, based on industry-leading applications from the two alliance companies and third parties."
The AspenWorld 2004 (http://www.aspenworld2004.com) program 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.
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About the Organizations
Aspen Technology, Inc. (Nasdaq: AZPN) provides industry-leading software and implementation services that enable process companies to use simulation models to increase efficiency and profitability. aspenONE, a new generation of software solutions from AspenTech, represents a major step forward in helping process manufacturers achieve their strategic operational excellence initiatives. The first comprehensive offering to address the demands of the Enterprise Operations Management (EOM) market, aspenONE provides companies with integrated systems that enable them to manage and optimize their operational performance. Over 1,500 leading companies already rely on AspenTech's software, including Aventis, Bayer, BASF, BP, ChevronTexaco, Dow Chemical, DuPont, ExxonMobil, Fluor, GlaxoSmithKline, Shell, and Total. For more information, visit www.aspentech.com.
Schlumberger (NYSE: SLB) is the world's leading oilfield services company supplying a wide range of products and services from formation evaluation through directional drilling, well cementing and stimulation, well completions and productivity to consulting, software, information management and IT infrastructure services that support core industry operational processes. Today, the company employs more than 50,000 people of over 140 nationalities working in 100 countries. Schlumberger also manages WesternGeco, jointly owned with Baker Hughes, which is the world's largest seismic company and provides advanced acquisition and data processing services. In 2003, Schlumberger operating revenue was $10.1 billion. For more information, visit slb.com.
For further information, contact:
Robin Swanger (For Media)
Aspen Technology, Inc.
Tel: + 281 504 3256
robin.swanger@aspentech.com
Joshua Young (For Investors)
Aspen Technology, Inc.
Tel: + 617 949 1274
joshua.young@aspentech.com
Susan Ganz
Media Relations Manager
Schlumberger Oilfield Services
Tel: +1 281 285 8245
sganz1@slb.com
Press Release 2006
