AspenTech Announces Chevron's Selection of Advanced Process Control Solution as Corporate Standard for Eight Refineries
Tuesday May 23, 8:33 am ET
Leading Global Energy Company Adopts Aspenone(TM) Advanced Process Control for Petroleum as standard solution to help achieve operational excellence across its worldwide refineries
CAMBRIDGE, Mass.--(BUSINESS WIRE)--May 23, 2006--Aspen Technology, Inc. today announced that Chevron Corporation, a leading global energy company, has selected aspenONE(TM) Advanced Process Control for Petroleum as its corporate standard for advanced control in its global refining operations. Implementing a standard solution at its eight refineries will help Chevron achieve operational excellence by enabling the company to share best practices and process knowledge among all its sites.
"This agreement is a significant endorsement of aspenONE Advanced Process Control for Petroleum and reflects the value that AspenTech's control technology and domain expertise can deliver," said Blair Wheeler, Senior Vice President, AspenTech. "Adopting standard global technologies and business processes will help Chevron to maximize its asset utilization, reduce its operating costs and extend best practices across its refining organization."
aspenONE Advanced Process Control for Petroleum will provide Chevron with a standard method for driving efficiency and reliability in its major refinery process units. The solution, based on such industry-proven applications as Aspen DMCplus®, Aspen SmartStep(TM) and Aspen Watch(TM), optimizes throughput and efficiency by pushing processes to multiple constraints simultaneously and holding them there safely. Economic returns are maximized over the life of the control implementation by innovative technologies that enable controller performance monitoring and diagnosis as well as partial automation of process unit step testing.
The new APC agreement is a significant expansion of the existing relationship between Chevron and AspenTech. Currently, a number of individual AspenTech applications are in use at certain Chevron refineries, including four sites that use the Aspen DMCplus controller. Under the terms of the new agreement, all eight Chevron refineries will implement a full suite of applications from the aspenONE Advanced Process Control for Petroleum solution.
License revenue from this transaction was recognized in AspenTech's fiscal quarter ending December 31, 2005.
Aspen Technology, Inc. provides industry-leading software and professional services that help process companies improve efficiency and profitability by enabling them to model, manage and control their operations. AspenTech's integrated aspenONE(TM) solutions are aligned with the key industry business processes, providing manufacturers the capabilities they need to optimize operational performance, make real-time decisions and synchronize the plant and supply chain. Over 1,500 leading companies already rely on AspenTech's software, including Bayer, BASF, BP, Chevron Corporation, DuPont, ExxonMobil, Fluor, GlaxoSmithKline, Sanofi-Aventis, Shell, and Total.
Chevron Corporation is one of the world's leading energy companies. With more than 53,000 employees, Chevron subsidiaries conduct business in approximately 180 countries around the world, producing and transporting crude oil and natural gas, and refining, marketing and distributing fuels and other energy products.
Source: Aspen Technology, Inc.
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