AspenTech Wins Bongkot Job
Aspen Technology, Inc., which provides software and services to the process industries, said that it has been selected by PTT Exploration and Production (PTTEP) to implement a system to optimize production from the Bongkot Field—Thailand’s largest natural gas field.
AspenTech’s Professional Services group will implement the integrated aspenONE(TM) solution, known as the Bongkot Optimization System. The technology is expected to enable PTTEP to maximize daily production from the field.
The system reportedly features key functionalities including operations surveillance, production optimization, production planning,and production allocation. Users access the system via Web-based information portals. The integrated aspenONE solution is built on a number of AspenTech applications that will enable PTTEP to model and optimize the complex Bongkot production network, including the Aspen HYSYS® and Aspen HYSYS Upstream(TM) simulation platforms, and the Aspen InfoPlus.21® real-time database.
The development of the Bongkot system stems from an AspenTech study that revealed that significant benefits could be achieved in the field by using an integrated solution to manage and optimize production. Located in the Gulf of Thailand, Bongkot consists mainly of gas reservoirs and some oil reservoirs. Multiple wells are drilled from 14 wellhead platforms. The reservoirs are multi-layered and multi-faulted, making production from the field difficult.
"The complex networks of reservoirs, wells, flowlines, and processing facilities make offshore production systems difficult to manage and optimize," said Blair Wheeler, AspenTech’s senior vice president. “By selecting AspenTech's Professional Services group to implement its new system, PTTEP will be able to benefit from the industry knowledge and experience of our team, and thus realize the maximum value from the solution."
The Bongkot project builds on the existing relationship between AspenTech and PTTEP, in which AspenTech is the simulation supplier to PTTEP. The company has used Aspen HYSYS for more than 6 years, primarily for modeling onshore facilities.
License revenue from this transaction was recognized in AspenTech's fiscal quarter ending March 31, 2006.
PTT Exploration and Production Public Co. Limited (PTTEP) was established in 1985 by the Petroleum Authority of Thailand to explore, develop, and produce Thailand's petroleum reserves to maximize the country's benefit from energy resources. Following significant expansion of PTTEP's business operations both domestically and internationally, it registered as a public company in 1992. Besides its core business of petroleum exploration and production, PTTEP has extended its investments into strategic downstream projects and has also entered the power generation sector to enhance and sustain its core business.
Aspen Technology, Inc. provides software and professional services that help process companies improve efficiency and profitability by enabling them to model, manage, and control their operations. The company’s integrated aspenONE(TM) solutions are aligned with the key industry business processes, providing manufacturers the capabilities they need to optimize operational performance, make real-time decisions, and synchronize the plant and supply chain.
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