A fully integrated model will link the reservoir, wells, surface infrastructure, process facilities and economic conditions into a single computer simulation environment that provides a common platform for field planning and real-time reservoir management. The solution will help operators improve profitability by increasing production, enhancing recovery and reducing lifting costs.
By combining AspenTech's expertise in modeling, simulation and optimization of process facilities with SIS expertise in exploration and production (E&P) reservoir and production operational processes and system modeling, the two companies will deliver a new software solution for integrated asset modeling. The newly developed Aspen AssetBuilder(TM) asset modeling framework and graphical user interface will serve as the platform for the joint SIS-AspenTech solution.
"We recognize that even small increases in productivity in oilfield production operations can result in major economic benefits to operators," said Peter Goode, president, SIS. "The implementation of a system that supports integrated asset modeling will deliver significant business value and is key to dynamic production enhancement and enablement of the field."
Other key software technology components that will be a part of the end-to-end solution are AspenTech's HYSYS Upstream(TM) process simulation technology, and the following SIS products: ECLIPSE(a) reservoir simulation software, PIPESIM(a) production system analysis software and the Merak Peep(a) economic evaluation and decline analysis software. Together, these integrated applications and services will enhance reservoir simulation, production and economic evaluation analysis, enabling operators to make accurate and timely operational process decisions.
"The core technologies provided by SIS and AspenTech are highly complementary, and the alliance enables our companies to deliver an end-to-end solution that will create significant economic value for operators," said Wayne Sim, senior vice president, AspenTech. "Both companies have a strategy of delivering innovative, open standards-based solutions to the oil and gas industry, and our joint development effort will allow us to accelerate the delivery of new, integrated products to the marketplace."
The alliance between the two companies covers joint activities in product development, marketing, sales and client project execution.
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