Aspen Technology, Inc. has announced new functionality in its Hysys modeling software. A new upstream option will enable companies to simulate and optimize their upstream asset including wells, flowlines and facilities.
Kotzabasakis
Aspen VP Manolis Kotzabasakis said, “By working closely with global leaders in upstream technology, we have been able to create a comprehensive solution that combines the best-in-class Hysys modeling with leading third party technologies.” The Hysys upstream option uses Black Oil modeling and PVT Analysis to predict production behavior and to integrate reservoir characterization with the process facility.
Pipesim
Asset-wide modeling capability is made possible by providing runtime interfaces to specialized well and flowline modeling tools. This capability enables Hysys 3.2 to be integrated with Schlumberger’s engineering tool, Pipesim.
$100 million
Aspen recently received a $100 million cash injection from private equity firm Advent International. Aspen will use the cash to retire existing preferred stock, repurchase convertible subordinated debentures and fund working capital. Advent will have the right to appoint up to four of the nine directors on AspenTech’s board of directors.
FTC challenge
The company is currently fighting a Federal Trade Commission challenge to its 2002 acquisition of Hyprotech from AEA Technologies. The FTC asserts that the acquisition ‘lessens competition’.
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