PETRONAS Selects AspenTech Asset Optimization Software
BEDFORD, Mass.--(BUSINESS WIRE)--Aug 20, 2018--Aspen Technology, Inc. (NASDAQ:AZPN), the asset optimization software company, today announced that PETRONAS, Malaysia’s fully integrated oil and gas multinational company, has selected aspenONE ® Engineering, Petroleum Supply Chain and Supply Chain Management software solutions to pursue asset optimization and maximize profitability at the Refinery and Petrochemical Integrated Development (RAPID) facility in Pengerang, Johor.
RAPID and six major associated facilities that comprise the Pengerang Integrated Complex (PIC) are PETRONAS’ largest downstream investment in Malaysia to date. The operations of the refinery, cracker plant and selected petrochemical facilities in PIC are managed by PETRONAS Refinery & Petrochemical Corporation.
To achieve operational excellence via asset optimization, PETRONAS has adopted Aspen HYSYS ® Petroleum Refining, Aspen Plus ®, Aspen Polymers ®, Aspen PIMS-AO, Aspen Petroleum Scheduler, Aspen Refinery Multi-Blend Optimizer and Aspen Plant Scheduler software. These solutions maximize margins with better troubleshooting, more robust planning and scheduling, optimized feedstock selection and product blends, improved response and decision-making.
According to Ir. Dr. Colin Wong Hee Huing, Senior Vice President & Chief Executive Officer, PETRONAS Refinery & Petrochemical Corporation, “The RAPID project will help PETRONAS produce premium petroleum and specialty chemicals products. Demand for such high-value products is increasing, especially in Asia Pacific. Committed to this vision, we have selected a broad range of asset optimization software solutions across engineering, petroleum supply chain and supply chain management software solutions from AspenTech to increase profitability.”
With software solutions that maximize profitability, reduce distribution costs and optimize daily schedules, PETRONAS achieves a sustainable competitive advantage to deliver high returns across the entire asset lifecycle at the RAPID facility, which is expected to be commissioned in 2019.
“We are pleased that PETRONAS has chosen to deploy aspenONE software at the RAPID facility in pursuit of the highest standards in operational excellence. To mitigate increasing industry complexity, AspenTech helps customers increase profitability and optimize return on investment across the entire asset lifecycle,” added Dr. Filipe Soares-Pinto, Senior Vice President of Sales, Asia Pacific, AspenTech.
About PETRONAS Established in 1974, Petroliam Nasional Berhad (PETRONAS) is Malaysia’s fully integrated oil and gas multinational ranked among the largest corporations on FORTUNE Global 500 ®. As the custodian for Malaysia’s national oil and gas resources, we explore, produce and deliver energy to meet society’s growing needs. The growing demand for energy inspires and strengthens our purpose to steadily drive for new solutions and push boundaries towards a sustainable energy future. www.petronas.com
About AspenTech AspenTech is a leading software supplier for optimizing asset performance. Our products thrive in complex, industrial environments where it is critical to optimize the asset design, operation and maintenance lifecycle. AspenTech uniquely combines decades of process modeling expertise with big data machine learning. Our purpose-built software platform automates knowledge work and builds sustainable competitive advantage by delivering high returns over the entire asset lifecycle. As a result, companies in capital-intensive industries can maximize uptime and push the limits of performance, running their assets faster, safer, longer and greener. Visit AspenTech.com to find out more.
© 2018 Aspen Technology, Inc. AspenTech, aspenONE, the Aspen leaf logo, Aspen HYSYS Petroleum Refining, Aspen Plus, Aspen Polymers, Aspen PIMS-AO, Aspen Petroleum Scheduler, Aspen Refinery Multi-Blend Optimizer and Aspen Plant Scheduler are trademarks of Aspen Technology, Inc. All rights reserved. All other trademarks are property of their respective owners.
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CONTACT: Aspen Technology, Inc.
Georgina Tan, +65 6395 3913
KEYWORD: UNITED STATES MALAYSIA ASIA PACIFIC NORTH AMERICA MASSACHUSETTS
INDUSTRY KEYWORD: ENERGY OIL/GAS TECHNOLOGY DATA MANAGEMENT INTERNET NETWORKS SOFTWARE
SOURCE: Aspen Technology, Inc.
Copyright Business Wire 2018.
PUB: 08/20/2018 09:00 AM/DISC: 08/20/2018 09:01 AM