BP has signed a five-year license agreement with Aspen Technology, Inc. to extend its use of the Aspen Engineering Suite (AES) for process simulation, design and performance optimization. The deal standardizes simulation technology across BP’s global upstream, refining and petrochemical businesses. The new agreement brings together AspenTech’s process modeling technology and recently acquired technologies from Hyprotech—used in BP for over a decade.
AspenTech’s engineering tools will give BP greater flexibility in executing major projects across the different business units—reducing internal development and engineering efforts and providing ‘significant economic benefits’ through increased efficiency of its projects.
BP Group Engineering Manager Gordon Hutchinson said, “BP is a long-term user of both AspenTech and Hyprotech technologies, and this agreement enables us to consolidate on a single engineering solution.”
AspenTech president David McQuillin added, “The addition of Hyprotech’s products to our Engineering Suite provides engineering solutions that enable model-based decision making across upstream, refining and chemicals.”
Under the new agreement, BP will have access to several additional features of AES, such as Aspen Icarus technology for economic evaluation, permitting the company to assess the economic viability of alternative process designs prior to capital commitment.
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