Aspen Technology Advances BPCL’s Sustainability Initiative

Rhea-AI Summary

Aspen Technology collaborates with Bharat Petroleum to enhance feedstock selection and optimization of crude distillation units performance. The collaboration aims to achieve greater agility and more accurate decision-making in real-time feedstock monitoring. AspenTech's process simulation and optimization solutions will be integrated into BPCL's crude assaying platform.

Positive

• The collaboration will result in faster and more accurate decision-making in feedstock selection and optimization, leading to improved refinery profitability.
• BPMARRK® generates the entire crude oil assay within one hour, compared to several weeks using conventional laboratory methods, allowing for real-time optimization.
• AspenTech's solutions will enable real-time decisions in response to changing operating conditions, enhancing operational excellence.

Negative

• No negative takes found.

Collaboration Results in Faster, Greener Feedstock Selection

BEDFORD, Mass.--(BUSINESS WIRE)-- Aspen Technology, Inc. (NASDAQ: AZPN), a global leader in industrial software, today announced that its process simulation and optimization expertise is being integrated with Bharat Petroleum Corporation Limited’s (BPCL) real-time crude assaying platform to achieve greater agility and more accurate decision-making in feedstock selection, monitoring and optimization of crude distillation units performance. The collaboration is part of BPCL’s commitment to achieve net zero emissions by 2040.

As part of the collaboration, AspenTech’s process simulation solution, Aspen HYSYS^®, and its feedstock optimization solution, Aspen PIMS™, are being integrated into BPCL’s BPMARRK^®, a patented technology for predicting detailed refining characteristics of crude oils.

"Refiners often process mix of crude oils, for which accurate assay is not available on real-time basis. Variations in crude quality as well as lack of reliable crude assay information makes the task of real-time optimization extremely challenging if not impossible,” said Mr. Sanjay Khanna, Director (Refineries) at BPCL. “BPMARRK^® generates the entire assay within one hour as compared to several weeks through conventional laboratory methods, and it predicts detailed Crude Oil Assay with more than 500 data information of any unknown crude oil within 2-5 minutes making it extremely useful for real-time applications.” Added Dr. Ravi Kumar V., Head (R&D), “BPMARRK^® will benefit our community of users with faster and more accurate decision-making for the characterization of crudes and maximize the refinery profitability.”

Sunil Patil, Senior Director, Solution Consulting at AspenTech, said: “AspenTech is pleased to expand its long-standing partnership with BPCL to ensure operational excellence and generate sustainability advances from more informed feedstock selections and value additions to its accurate processing in crude distillation units. In addition, the integrated solution will enable real-time decisions in response to changing operating conditions.”

Supporting Resources

• Bharat Petroleum Corporation Limited
• BPMARRK (bharatpetroleum.in)
• Aspen HYSYS®
• Aspen PIMS™

About Aspen Technology

Aspen Technology, Inc. (NASDAQ: AZPN) is a global software leader helping industries at the forefront of the world’s dual challenge meet the increasing demand for resources from a rapidly growing population in a profitable and sustainable manner. AspenTech solutions address complex environments where it is critical to optimize the asset design, operation and maintenance lifecycle. Through our unique combination of deep domain expertise and innovation, customers in asset-intensive industries can run their assets safer, greener, longer and faster to improve their operational excellence. To learn more, visit AspenTech.com.

© 2023 Aspen Technology, Inc. AspenTech, aspenONE, the Aspen leaf logo, Aspen, Aspen HYSYS and Aspen PIMS are trademarks of Aspen Technology, Inc. All rights reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230516005867/en/

Aspen Technology, Inc.

Georgina Tan

+65 6395 3913

Georgina.Tan@aspentech.com

Source: Aspen Technology, Inc.

FAQ

What is the collaboration between Aspen Technology and Bharat Petroleum about?

The collaboration aims to enhance feedstock selection and optimization of crude distillation units performance by integrating AspenTech's process simulation and optimization solutions into BPCL's real-time crude assaying platform.

What is the benefit of using BPMARRK® for real-time applications?

BPMARRK® generates the entire crude oil assay within one hour, providing more than 500 data information of any unknown crude oil in 2-5 minutes, allowing for faster and more accurate decision-making.

How will AspenTech's solutions contribute to operational excellence?

AspenTech's solutions will enable real-time decisions in response to changing operating conditions, enhancing operational excellence and improving refinery profitability.