Online Only: Leveraging process models provides seamless workflow

E&P organizations constantly are planning and developing new assets by leveraging existing infrastructure or at greenfield sites. In those development decisions, process design and operating costs have trade-offs and are not always easy to identify. Optimizing the business end-to-end from the design phase to operations by leveraging process models is a best practice that is achievable.

Mike Strathman, Rob Hockley, and Ron Beck, Aspen Technology Inc.

Engineering know-how and experience always have been central to the design and safe operation of an E&P facility. The growing scarcity of experienced workers is creating an experience gap that engineering models can help bridge. They provide a common language for capturing ideas in design models and leverage the embedded “experience” to help optimize asset performance in operations.Industry business challengesToday, several business challenges are raising the importance of evolving the use of modeling technology to address a complete asset life cycle through financial discipline, re-examining existing assets, and the shortage...

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