In this customer success story, learn how MOL recently added Aspen Mtell® software from the AspenONE® Asset Performance Management (APM) software suite to its portfolio of AspenTech solutions to drive efficiencies across plant operations and increase sustainability. This made a major contribution to operators in accelerating digitalization plans. Aspen Mtell has become an integral part of MOL’s strategic digitalization plan, which includes initiatives to extract increased value from its assets and increase overall plant availability to 96+ percent.

In this case study, discover how OCP Ecuador used prescriptive maintenance to accurately identify asset failure and reduce maintenance costs. With three times the initial investment returned in less than five months, OCP Ecuador is planning to scale Aspen Mtell® to protect 13 additional assets in the near future - and to scale across the enterprise in the coming years.

Leading asset-intensive companies are using prescriptive maintenance—powered by AI and machine learning—to unlock the value and productivity lying uncaptured in assets. Using a scalable, easy to implement prescriptive maintenance solution, companies can improve the accuracy of failure detection, increase the advance notification period of asset downtime events and reduce maintenance spend.

How do we meet the expectations of a growing population, but also address sustainability? This short video featuring Antonio Pietri, CEO Aspen Technology, discusses this dual challenge and the new levels of operational excellence in the capital intensive industries.

For reliability engineers, Failure Modes and Effects Analysis (FMEA) is a step-by-step process for identifying and tracking the various ways an asset or equipment can fail. But despite its merits, FMEA is labor intensive, typically used only for critical equipment and does not sufficiently use data to improve its capability.

In a volatile, changing world, companies must rethink how they will compete and stay ahead. Advancements in AI and process simulation combined with deep domain expertise empower companies to do things faster, easier and smarter than ever before. View this video to learn how Aspen Hybrid Models integrate first principles-based process simulation models, AI and domain expertise to deliver comprehensive, accurate models more quickly without requiring significant expertise.

Reactor operations continue to be critical for today’s refineries, but reactor simulation solutions have traditionally been difficult to use and maintain. The problem is magnified as experienced engineers and operators retire at a faster rate.

The priorities of industrial manufacturers are changing. While minimizing asset downtime and maximizing production and quality remain important, sustainability and operational initiatives are becoming intricate parts of a company’s strategic objectives. Increasingly, they are relying on asset performance management (APM) software to meet the challenges of volatile market demands and supply chain disruptions and optimize overall asset performance.

At AspenTech we are committed to listening and amplifying voices in the LGBTQ+ community. Read a short list of how we all can elevate our allyship

In today’s VUCA (volatile, uncertain, complex and ambiguous) marketplace, it is important for manufacturers to identify and understand the impact of impeding disruptions and minimize safety, while at the same time meeting their profit objectives. In this Oil Review-Middle East article, AspenTech APM Sr. Director Mike Brooks explains how Autonomous Agents can help a plant identify unexpected events and processes that are out of the norm.