SBM Offshore Inks Multi-Year License Deal with AspenTech

Aspen Technology, reports that SBM Offshore, a major owner and operator of floating production storage and offloading systems (FPSOs), has signed a multi-year license agreement to expand its use of AspenTech's engineering solutions. The new agreement provides access to applications including Aspen HYSYS and the Aspen HYSYS Upstream(TM) option which are key components of the integrated aspenONE(TM) for Oil & Gas solutions. SBM will use the applications to support the design and optimization of new and existing oil and gas production facilities.

This latest commitment builds on the earlier agreements signed by several SBM Offshore Group companies - GustoMSC, SBM-Imodco and Single Buoy Moorings - in which they adopted Aspen HYSYS as their standard simulation platform. The new agreement enables SBM to expand its usage of the tools to support a range of other applications including Aspen HYSYS dynamic simulations and the design of heat transfer equipment.

"AspenTech's simulation applications are specifically designed for our industry," said Mike Wyllie, Chief Engineer, SBM. "Providing our engineers with flexible access to more tools will enable us to make better design and investment decisions, in addition to increasing our engineering efficiency on upstream projects."

"Aspen HYSYS is recognized as the leading platform for simulation and optimization in the oil & gas industry," said Blair Wheeler, Senior Vice President, AspenTech. "SBM's decision to expand its commitment to Aspen HYSYS applications reflects the value they can deliver to upstream companies by optimizing the design and performance of production systems."

The Aspen HYSYS process simulation environment used by SBM combines a user-friendly architecture with industry-leading simulation technology. The Aspen HYSYS Upstream option extends these capabilities by providing industry standard methods and techniques for handling petroleum fluids.

License revenue from this transaction was recognized in AspenTech's fiscal quarter ending March 31, 2006.


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