Schlumberger and AspenTech Form Alliance to Deliver Integrated Asset Modeling Solution for Oil...

LONDON & CAMBRIDGE, Mass. -- New Integrated Architecture Enables Operators to Plan, Manage and Optimize Oil and Gas Asset Production

Schlumberger Information Solutions (SIS) and Aspen Technology, Inc. (AspenTech) today announced that they have entered into a five-year alliance to provide

the upstream oil and gas business with an advanced, real-time software solution. The solution will provide operators with a continuous view of their assets, from reservoirs through to the processing facilities, enabling them to plan, manage and optimize oil and gas production.

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.