Ecopetrol Extends Investment in Aspen Technology Solutions to Accelerate Digital Transformation Initiatives
Aspen Technology (NASDAQ:AZPN) has partnered with Ecopetrol, Colombia's largest petroleum company, to implement its GDOT™ dynamic optimization and DMC3™ advanced process control software at its Cartagena and Barrancabermeja refineries. This collaboration is part of Ecopetrol's digitalization effort to enhance refining margins and operational efficiency. With these advanced solutions, Ecopetrol aims to improve production optimization, maintain real-time coordination of refining units, and boost overall performance. The integration supports Ecopetrol's strategic initiative to adopt innovative technologies.
- Partnership with Ecopetrol enhances AspenTech's market presence in Latin America.
- GDOT™ and DMC3™ software will improve refining margins and operational efficiency.
- Supports Ecopetrol's digitalization initiative, potentially leading to increased sales.
- None.
Aspen Technology, Inc. (NASDAQ:AZPN), a global leader in asset optimization software, today announced that Ecopetrol, the largest petroleum company in Colombia, has selected Aspen GDOT™ dynamic optimization software as part of its digitalization initiative to improve refining margins at its two refineries in Cartagena and Barrancabermeja, and upgrading to Aspen DMC3™ advanced process control software in Barrancabermeja refinery.
“Optimizing production and increasing margins in today’s downstream business environment requires digital technology that enables refineries to see the entire process and make adjustments based on real-time data,” said Francisco Trespalacios Vergara, digital downstream champion at Ecopetrol. “This combination of AspenTech solutions gives us unparalleled visibility and control so that we can respond to changes in market conditions and align our planning, optimization and control strategies at our Cartagena and Barrancabermeja facilities with our global models. These solutions also fit in with our corporate digitalization initiative that we call ‘Best of the Best,’ which is an effort to deploy the ideal technology solutions to meet our needs across the organization.”
Aspen GDOT and Aspen DMC3 join other AspenTech solutions currently used by Ecopetrol, including Aspen PIMS-AO™ for planning, aspenONE® Engineering for process optimization, Aspen Petroleum Scheduler™ and Aspen Refinery Multi-Blend Optimizer™ for scheduling, and Aspen Operations Reconciliation and Accounting™ for mass balance reconciliation. With Aspen GDOT, Ecopetrol aims to improve performance and margin by closed-loop coordination of multiple refining units in real time. Ecopetrol will use Aspen DMC3 to sustain optimal performance with adaptive process control technology that enables simultaneous process optimization, background model maintenance and testing.
“Ecopetrol is applying a truly innovative, state-of-the-art approach to production optimization and closing the gap between planning, scheduling and operations,” said Alex Muro, Vice President of Regional Sales for Latin America at Aspen Technology. “These solutions will give these Ecopetrol facilities the agility and operational flexibility they need to adapt to customer demands and will allow Ecopetrol to achieve greater time to value by integrating with the AspenTech software already in place.”
Supporting Resources
About Aspen Technology
Aspen Technology (AspenTech) is a global leader in asset optimization software. Its solutions address complex, industrial environments where it is critical to optimize the asset design, operation and maintenance lifecycle. AspenTech uniquely combines decades of process modelling expertise with artificial intelligence. Its 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 and faster. Visit AspenTech.com to find out more.
© 2021 Aspen Technology, Inc. AspenTech,, the Aspen leaf logo, Aspen GDOT™, Aspen DMC3™, Aspen PIMS-AO™ and aspenONE® are trademarks of Aspen Technology, Inc.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210318005213/en/
FAQ
What new software is Aspen Technology providing to Ecopetrol?
How will the partnership with Ecopetrol impact Aspen Technology's performance?
When was the partnership with Ecopetrol announced?
What is the significance of the GDOT™ software for Ecopetrol?
