Technology should be seen as a competitive
differentiator and not simply a cost of doing
business. Advances in areas like process optimisation
software help E&Cs broaden their global footprint
and strengthen their competitiveness in high-growth,
emerging markets. Many companies have adopted
AspenTech’s aspenONE Engineering software suite to
optimise process designs for energy use, capital and
operating costs and product yield through the use of
activated energy, economics and equipment design
during the modelling process. aspenONE Engineering
enables E&C companies to bid and perform projects
with lower cost and company risk.
In addition, partnering with AspenTech brings
significant commercial benefits in the form of its
business model. With aspenONE® Licensing Model,
E&Cs have access to all products in the aspenONE®
suite and can use software tools on a ‘check out check in’ basis and track the usage whilst adjusting
when and where the software is used based on
their changing business requirements. As business
priorities evolve, this flexible software model
transforms the way companies can conduct business,
whether the software is installed on premises or in
the cloud, customers have access to the full range
of innovative software applications to meet project
demands.
For example, if an E&C is using Aspen HYSYS to
produce engineering models for the oil & gas market,
they can switch t heir tokens to adopt Aspen Plus
to produce and optimise process models, including
best-in-class physical properties, to support
customers in the chemical industries. Common and
intuitive user interface with the tools allow engineers
to easily switch between applications. Embedded
training in the software tools allows quicker learning
and interaction to help speed up knowledge when
engineering staff may be new to the company or
unfamiliar with key project software technology.
A leading European E&C recently demonstrated
the principle dynamics of diversification by using
Engineering projects
need to maintain
maximum flexibility
early in the project
cycle.
AspenTech’s leading aspenONE suite to adapt and support its
commercial needs. In 2012, when the oil price reached a high of
$125 per barrel for Brent, the focus of engineering tools used was
on hydrocarbons. Crude oil prices fell during the second quarter
of 2012 as a result of lower oil demand and the global economic
slowdown. By the end of 2014, Brent crude oil prices ended
at around $58. Reflecting this trend, the large European E&C’s
software usage shifted towards a more diverse range of tools to
support other industries, including chemicals, metals and mining,
heat exchanger engineering projects through to the use of more
dynamic simulation software. This proved to be an enormous
commercial advantage, using both the AspenTech License Model
and the comprehensive software suite of tools to help mitigate
risk and adapt to market fluctuations.
Innovation and business growth
The engineering design and construction industry is rapidly
changing against a backdrop of fluctuating oil prices and intense
competition. Today, the markets are open to global trade
allowing capital investment, skills and technology to move freely
across borders and increase business opportunities. Agility is
essential to respond quickly to change and being flexible requires
organisations to build long-term partnerships with technology
vendors to meet demand and support customer needs. Crucially,
with the right software tools E&Cs can successfully achieve
competitive edge. The biggest capital project opportunities
worldwide exist in the midstream and upstream, including gas
production, oil production and gas processing. This requires
better and more efficient ways of executing projects. As the
market continues to show signs of turbulence, flexibility in the
engineering of facilities is extremely important.
Business is becoming more complex. If E&Cs are to weather the
storm in the energy markets, access to a flexible and scalable
software model helps E&Cs compete and survive while capitalising
on growth opportunities in established and emerging markets
alike.
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PECM Issue 14