A FIVE YEAR ALLIANCE TO PROVIDE OIL AND GAS BUSINESS WITH A REAL TIME SOFTWARE SOLUTION IS ANNOUNCED
15 July 2004 - Schlumberger

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 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 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 process simulation technology, and the following SIS products: ECLIPSE reservoir simulation software, PIPESIM production system analysis software and the Merak Peep 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.

'The core technologies provided by SIS and AspenTech are highly complementary, and the alliance enables our companies to deliver an end-to-end solution that will create significant economic value for operators,' said Wayne Sim, senior vice president, AspenTech. 'Both companies have a strategy of delivering innovative, open standards-based solutions to the oil and gas industry, and our joint development effort will allow us to accelerate the delivery of new, integrated products to the marketplace.'

The alliance between the two companies covers joint activities in product development, marketing, sales and client project execution.

Aspen Technology, Inc.(NASDAQ:AZPN) provides industry-leading software and implementation services that enable process companies to increase efficiency and profitability. AspenTech's engineering product line is used to design and improve plants and processes, maximizing returns throughout an asset's operating life. Its manufacturing/supply chain product line allows companies to increase margins in their plants and supply chains, by managing customer demand, optimizing production, and streamlining the delivery of finished products. These two offerings are combined to create solutions for enterprise operations management (EOM), integrated enterprise-wide systems that provide process manufacturers with the capability to dramatically improve their operating performance. Over 1,500 leading companies already rely on AspenTech's software, including Aventis, Bayer, BASF, BP, ChevronTexaco, Dow Chemical, DuPont, ExxonMobil, Fluor, GlaxoSmithKline, Shell, and Total. For more information, visit aspentech.com

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