September 24, 2012
Aspen Technology, Inc. (NASDAQ: AZPN), a leading provider of software and services to the process industries, announced that its customer PTT Group, Thailand’s Petroleum Authority, has been awarded the 2012 Oil & Gas Award for Process Optimization Excellence by Boston Strategies International (BSI).
BSI has honored PTT Group based on its successful use of aspenONE Engineering simulation software to raise output at its gas separation plant in Rayong, the largest facility of its kind in Thailand. Producing ethane, propane, LPG and NGL, the plant had achieved only 95% capacity since it came online due to limitations of its gas turbine driving the sale gas compressor.
PTT Group turned to aspenONE Engineering and Aspen HYSYS® modeling software to optimize the gas plant, increasing production and minimizing cost-per-ton of product. With AspenTech, the firm increased production and plant capacity to 107% of design capacity. The increase in output raised the plant’s profitability by $46,000 per day and increased production by 126,000 tons per year.
The award will be presented at the 6th Annual Global Procurement and Supply Chain Management for the Oil and Gas Industry from September 24 – 26, 2012 at Thistle Marble Arch, London, United Kingdom.
BSI has conducted an annual in-depth global operations management benchmark study in the oil and gas industry since 2008. This year it screened over 200 candidate operations and supply chain management improvements among national oil companies, international oil companies, equipment providers, and service providers.
Somchai Kooyai, Vice President of Production, Planning and Technical Management, PTT
“It is a pleasure to accept this award on behalf of PTT Group. We are proud of our accomplishment in raising output and profitability at Gas Separation Plant No. 5, which has raised our ability to meet Thailand’s energy needs.”
Henry Lau, Senior Vice President & Managing Director for Asia Pacific, AspenTech
“PTT Group is at the forefront of APAC energy companies who are responding to increased energy requirements stemming from economic growth in the region. aspenONE software helps PTT meet that demand by optimizing plant design and production processes for greater output and profitability. Asia is an important growth area for AspenTech, and we look forward to continuing our partnership with PTT and other energy leaders in the region.”
AspenTech is a leading supplier of software that optimizes process manufacturing – for energy, chemicals, engineering and construction, and other industries that manufacture and produce products from a chemical process. With integrated aspenONE solutions, process manufacturers can implement best practices for optimizing their engineering, manufacturing and supply chain operations. As a result, AspenTech customers are better able to increase capacity, improve margins, reduce costs and become more energy efficient. To see how the world’s leading process manufacturers rely on AspenTech to achieve their operational excellence goals, visit www.aspentech.com.