Nearly 150 of the midstream and downstream oil and gas industry’s brightest minds gathered in Houston, TX recently to celebrate the winners of the 2019 Hydrocarbon Processing Awards. The awards ceremony, now in its third year, recognizes and honors the midstream and downstream processing industry’s top innovations and innovators.
The AspenTech team is thrilled that Aspen Mtell® was named Best Asset Monitoring Technology for its ability to recognize leading indicators of asset failure and alert plant staff weeks prior to breakdown, allowing time to plan maintenance and reschedule production to minimize financial impact. Recognizing AspenTech’s innovation on multiple fronts, Aspen GDOT™ was chosen as a finalist for best process controls/automation technology.
Honorees took home awards in 17 categories, including 13 celebrating the latest technological advances in the industry and four awards honoring people who have had a significant impact on the hydrocarbon processing field. Nearly 100 nominations were submitted from more than 20 countries. Each abstract was voted on by an independent Hydrocarbon Processing advisory board, examining the solution’s impact on the industry and how it advances digitalization.
Hydrocarbon Processing editor Lee Nichols said, "As the downstream processing industry evolves into the digital transformation age, asset monitoring is paramount. The technologies being brought to the market today, such as AspenTech’s Mtell software, provides asset owners optimization tools and solutions for more reliable, profitable and safer operations."
We have numerous examples of Aspen Mtell delivering value, not just in the hydrocarbon processing industry, but in mining, transportation, pharmaceuticals and pulp and paper. We’ve helped companies avoid countless hours of unplanned downtime, save millions of dollars in repair costs and prevent massive production losses — and we’re constantly exploring ways to make our solution deliver better insight sooner offering root cause of failure analytics and prescriptive maintenance recommendations to deliver even greater value to the business.
As organizations look to digitalization to optimize production and reduce costs, finding providers that can support plants across the full spectrum of the asset lifecycle will become increasingly important. Tightly integrated solutions will help companies identify more opportunities to increase margins, prolong asset life and run equipment at peak efficiency. As machine learning and AI become more deeply embedded into our solutions, we’ll be even better equipped to help our customers reach their Industry 4.0 and smart plant goals — and potentially capture more industry awards and recognition.
Learn more about Aspen Mtell in the white paper Seeing Into the Future With Prescriptive Analytics: A New Vision for Asset Performance Management.