BP Partners with AspenTech to Improve Operations through Technology

BP Partners with AspenTech to Improve Operations through Technology

Broad adoption of AspenTech Asset Optimization solutions supports BP in ensuring safe, reliable, operationally efficient and sustainable operations

BEDFORD, Mass. - November 15, 2017 - Aspen Technology, Inc. (NASDAQ: AZPN), the asset optimization software company, today announced that BP, one of the world's leading integrated oil and gas companies, has renewed its license agreement for aspenONE® Engineering, a market leading suite of products focused on process engineering and optimization, and aspenONE® Manufacturing and Supply Chain, a suite of process operations and supply chain software.

This global strategic enterprise agreement allows BP to leverage the full range of AspenTech's best in class solutions, including Aspen PIMS-AO for refinery planning, Aspen Advanced Process Control (APC) solutions and Aspen HYSYS® solutions for engineering and optimization.

Through its wide deployment of AspenTech planning software, BP can address key opportunities to move with price cycle and energy trends in refinery planning and execution, improving capacity management and increasing margins.

aspenONE® Engineering is a market leading suite of products focused on process engineering and optimization. Process modeling, analysis, safety and design tools are integrated and accessible through process simulators Aspen HYSYS® and Aspen Plus®. Process design and improvement for safer operations, improved energy use and sustainability, capital and operating costs and product yield are all achieved using this suite.

The aspenONE® Manufacturing and Supply Chain software suite allows customers to optimize feedstock, respond quickly to disruptions, capitalize on trading opportunities, and optimize inventory and transportation assets. It delivers complete petroleum supply chain optimization with integrated refinery planning and scheduling and standardized platforms for primary and secondary distribution networks. Aspen PIMS-AO enables planners to quickly and easily solve their complex business challenges. Aspen Petroleum Scheduler supports the key scheduling activities for a refinery.

The aspenONE software suite helps customers, such as BP, to respond more quickly, safely and sustainably to market opportunities, with higher reliability and lower energy use, and to achieve higher oil and gas production levels with existing assets.