BP renews licence agreement with Aspen Technology

British integrated oil and gas company BP has renewed its deal with asset optimisation software company Aspen Technology in order to ensure efficient and sustainable operations.

The renewal is related to a licence agreement for process engineering and optimisation software aspenONE Engineering, as well as aspenONE Manufacturing and Supply Chain, which is a suite of process operations and supply chain software.

Under the agreement, BP will have access to the full range of AspenTech’s solutions, including Aspen PIMS-AO for refinery planning, Aspen Advanced Process Control (APC) solutions and Aspen HYSYS solutions for engineering and optimisation.

Aspen Technology president and CEO Antonio Pietri said: “This relationship will allow AspenTech to support BP’s production performance by integrating asset design with operational planning to enable profitable, agile operations across the entire business and asset lifecycles.”

The deployment of AspenTech planning software enables BP to address opportunities to move with price cycle and energy trends in refinery planning and execution, leading to improved capacity management and margins.

The aspenONE Engineering software offers process modelling, analysis, safety and design tools in an integrated setup.

In addition, the suite allows customers to achieve safer operations, improved energy use and sustainability, capital and operating costs, as well as product yield.

Meanwhile, customers using the aspenONE Manufacturing and Supply Chain software suite can pursue optimisation of feedstock, inventory and transportation assets.

Additionally, the suite allows both a swift response to disruptions and capitalisation on trading opportunities.

The aspenONE software suite is aimed at ensuring a quick response to market opportunities, greater reliability and lower energy use, in addition to enhancing oil and gas production levels with existing assets.