Aspen Technology, Inc. (NASDAQ:AZPN), the asset optimization software company, today announced that PETRONAS, Malaysia’s fully integrated oil and gas multinational company, has selected aspenONE® Engineering, Petroleum Supply Chain and Supply Chain Management software solutions to pursue asset optimization and maximize profitability at the Refinery and Petrochemical Integrated Development (RAPID) facility in Pengerang, Johor.
RAPID and six major associated facilities that comprise the Pengerang Integrated Complex (PIC) are PETRONAS’ largest downstream investment in Malaysia to date. The operations of the refinery, cracker plant and selected petrochemical facilities in PIC are managed by PETRONAS Refinery & Petrochemical Corporation.
To achieve operational excellence via asset optimization, PETRONAS has adopted Aspen HYSYS® Petroleum Refining, Aspen Plus®, Aspen Polymers®, Aspen PIMS-AO, Aspen Petroleum Scheduler, Aspen Refinery Multi-Blend Optimizer and Aspen Plant Scheduler software. These solutions maximize margins with better troubleshooting, more robust planning and scheduling, optimized feedstock selection and product blends, improved response and decision-making.
According to Ir. Dr. Colin Wong Hee Huing, Senior Vice President & Chief Executive Officer, PETRONAS Refinery & Petrochemical Corporation, “The RAPID project will help PETRONAS produce premium petroleum and specialty chemicals products. Demand for such high-value products is increasing, especially in Asia Pacific. Committed to this vision, we have selected a broad range of asset optimization software solutions across engineering, petroleum supply chain and supply chain management software solutions from AspenTech to increase profitability.”
With software solutions that maximize profitability, reduce distribution costs and optimize daily schedules, PETRONAS achieves a sustainable competitive advantage to deliver high returns across the entire asset lifecycle at the RAPID facility, which is expected to be commissioned in 2019.
“We are pleased that PETRONAS has chosen to deploy aspenONE software at the RAPID facility in pursuit of the highest standards in operational excellence. To mitigate increasing industry complexity, AspenTech helps customers increase profitability and optimize return on investment across the entire asset lifecycle,” added Dr. Filipe Soares-Pinto, Senior Vice President of Sales, Asia Pacific, AspenTech.