APPLICATIONS

Aspen Technology announced that Statoil, a major Norwegian oil & gas producer, has signed a multi-year license agreement to expand its use of AspenTech's engineering solutions. The new agreement provides access to applications including Aspen HYSYS and the Aspen HYSYS Upstream option which are key components of the aspenONE Simulation and Optimization for Oil & Gas module. Statoil will use the applications to support the design and optimization of new and existing oil and gas production facilities. This latest commitment builds on the agreement signed in 2004 in which Statoil adopted AspenTech's integrated solution for Front-End Engineering Design (FEED). This solution combines process simulation, economic evaluation and engineering data management, and has enabled Statoil to create more efficient engineering work processes for major new exploration and production projects. "AspenTech's simulation applications are specifically designed for the complex fluid behavior found in oil & gas systems that makes them difficult to analyze and optimize," said 0ivind Nilsen, Vice President Process Technology and Mechanical Equipment, Statoil. "Providing our engineers with access to these tools in combination with the integrated FEED solution will enable us to make better design and investment decisions, in addition to increasing our engineering efficiency on upstream projects." The FEED solution adopted by Statoil is based on the Aspen HYSYS process simulation environment, which combines a user-friendly architecture with industry-leading simulation technology. The Aspen HYSYS Upstream option extends these capabilities by providing industry standard methods and techniques for handling petroleum fluids. It also provides the ability to link to leading third-party applications that model oil & gas gathering networks, enabling both steady-state and dynamic simulation of entire oil & gas production systems, from the wellhead through to the production facilities. "The Aspen HYSYS platform is recognized as the leading production facility engineering environment for the upstream industry, and provides the foundation for the integrated aspenONE for Oil & Gas solutions," said Blair Wheeler, Senior Vice President, AspenTech. "By extending its commitment to this platform, and adding the new capabilities provided by the Aspen HYSYS Upstream option, Statoil will be able to maximize the effectiveness of its engineering resources."