Statoil Selects AspenTech's FEED Software

Aspen Technology says that Statoil has signed a multi-year license agreement to deploy AspenTech's integrated software solution for Front-End Engineering Design (FEED). Statoil will use the solution, which combines process simulation, economic evaluation and engineering data management, to create more efficient engineering work processes for major new exploration and production projects.

AspenTech's FEED solution provides a framework that supports a collaborative engineering approach, with multiple engineering disciplines integrated together using a common set of process and economic data. This integrated approach will enable Statoil to create a range of alternative design concepts, analyze process performance, and produce good budget estimates, using significantly fewer engineering man-hours than with conventional techniques.

"Selecting the optimal design option for a new offshore platform or process facility requires detailed analysis of various process alternatives and a clear understanding of the investment implications," said Oivind Nilsen, Vice President of Concept Development at Statoil. "AspenTech's integrated engineering solution will enable us to cut the time it takes to develop and screen alternative concepts in the conceptual design phase, leading to a reduction in engineering costs and a faster time-to-market."

The process simulation capability in the solution is provided by AspenTech's HYSYS(R) modeling environment, which combines a user-friendly architecture with industry-leading simulation technology. The Aspen Zyqad(TM) engineering data management system allows simulation data to be shared among multiple users, and also stored for re-use after the concept design stage, during detailed engineering and operational improvement programs.

"AspenTech's FEED solution improves both knowledge management and engineering productivity, by enabling more effective sharing of process and economic data from conceptual design through detailed engineering and plant operations," said David McQuillin, President and CEO of AspenTech. "By deciding to adopt an integrated approach, Statoil will be able to make better design and investment decisions, while achieving significant improvements in engineering efficiency."