BEDFORD, Mass.--(BUSINESS WIRE)--Apr 24, 2019--Aspen Technology, Inc. (NASDAQ: AZPN), the asset optimization™ software company, today announced that Rompetrol Rafinare, a KMG International Group member and the largest refinery company in Romania, has purchased Aspen Mtell ® software and Aspen Fidelis Reliability ® software licenses from the aspenONE ® Asset Performance Management (APM) software suite as an integral part of its digital transformation strategy.
AspenTech’s solutions will be instrumental in improving production uptime and reducing maintenance costs as part of Rompetrol’s digital strategy focusing on improving the reliability and availability of its assets. AspenTech products, including Aspen Mtell and Aspen Fidelis Reliability, allow Rompetrol not only to detect plant failures in advance, but also to understand their financial impact, allowing for improved asset planning and enhanced operational decisions.
Yedil Utekov, general manager of Rompetrol Rafinare stated: “Our goal is to achieve ‘one view’ of our refinery operations to bring greater operational efficiency and value. Working with AspenTech we are able to identify failures significantly earlier, reducing equipment damage and unplanned process downtime.”
Identifying weak links in reliability, maintainability and availability will help the business to compete effectively, while prioritizing further improvement initiatives and complying with regulations such as IMO2020 which comes into effect January 1, 2020 and calls for a 0.50% global sulfur cap for marine fuel content.
Utekov added: “AspenTech’s experience in our industry, coupled with the fact that its product portfolio represents one of the broadest footprints of asset optimization solutions in the market, allows us to take this step forward in our digitalization strategy. AspenTech’s APM suite gives us improved asset availability and its advanced process control solution gives us better utilization. We will be able to plan, intervene and save significant production time each year. That combination equates to top line and bottom line improvements for our business.”
John Hague, senior vice president and general manager, Aspen Technology’s APM Business Unit explained: “Initially Rompetrol was concerned its plant was not adequately instrumented to take best advantage of Aspen Mtell’s machine learning capabilities. This common misconception often arises from previous third-party experience. The reality is that Aspen Mtell demonstrated strong, accurate signatures right from the outset with relatively limited instrumentation. In fact, AspenTech has given Rompetrol a tool that can deliver immediate value, while providing a guide to the correct instrumentation needs and avoiding unnecessary implementation expense.”
Hague continued: “Improving data integrity means the refinery team can now automate its previous efforts with dramatically improved capabilities for reliably recognizing important patterns in operating data. We expect that improvement in analysis will achieve a reduction in maintenance costs, enable them to significantly mitigate production losses and minimize disruptions to its customers.”
Aspen Mtell and Aspen Fidelis Reliability are part of the aspenONE ® Asset Performance Management (APM) software suite combining big data, machine learning and process knowledge expertise to maximize performance across the design, operations and maintenance asset lifecycle. Aspen Mtell mines historical and real-time operational and maintenance data to discover the precise failure and anomaly signatures that precede asset degradation and breakdowns, predict future failures and prescribe detailed actions to mitigate or solve problems. Aspen Fidelis Reliability is a reliability management solution that is uniquely designed to take process flows into account, and the impacts of failures and repairs on overall plant performance and revenues.
About Aspen Technology
Aspen Technology (AspenTech) is a leading software supplier for optimizing asset performance. Our products thrive in complex, industrial environments where it is critical to optimize the asset design, operation and maintenance lifecycle. AspenTech uniquely combines decades of process modeling expertise with machine learning. Our purpose-built software platform automates knowledge work and builds sustainable competitive advantage by delivering high returns over the entire asset lifecycle. As a result, companies in capital-intensive industries can maximize uptime and push the limits of performance, running their assets safer, greener, longer, faster. Visit AspenTech.com to find out more.
© 2019 Aspen Technology, Inc. AspenTech, aspenONE, the Aspen leaf logo, Aspen and Aspen Mtell are trademarks of Aspen Technology, Inc. All rights reserved.
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CONTACT: Aspen Technology, Inc.
+44 (118) 92 26510
KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT SOFTWARE
SOURCE: Aspen Technology, Inc.
Copyright Business Wire 2019.
PUB: 04/24/2019 06:00 PM/DISC: 04/24/2019 06:00 PM