BP and Aspen unite to boost oil value by $1/2 per barrel
15 Jan 2000
BP Oil's refineries could soon be enjoying a boost in productivity thanks to a joint venture with Aspen Technology. The venture will see Aspen's refinery automation technology installed at BP's network of refineries.
Initially, Aspen will install its control systems at three of BP's refineries. The companies believe that this project, which will take five years, represents the largest ever control and optimisation initiative undertaken by an oil refining company.
The deal is part of BP's `optimal commercial refining vision' scheme. This scheme, which focuses on the impact of process control and systems technology on refineries, aims to improve the facilities' profitability by half a dollar per barrel of crude feed.
`We have set a target to improve significantly our competitive position by the year 2000,' explains Jean-Claude Montanier, who enjoys the job title of manufacturing champion at BP.
`The alliance with AspenTech provides us with a reliable and cost-effective way of helping us to achieve much of this goal.'
