Dow to use AspenTech engineering software on petrochemical projects
9/12/2011 12:00:00 AM
US software and services provider Aspen Technology (AspenTech) said that Dow Chemical is using its aspenOne engineering software to guide capital-cost decisions on large-scale petrochemicals projects.
Dow has reduced the time it takes to produce accurate engineering estimates from months to weeks by using Aspen capital cost estimator (ACCE), the company said.
The application provides estimating and collaboration capabilities that can scale to manage very large, global projects.
- Previously, estimators were unable to model large, multi-plant facilities as one integrated project. Now, ACCE users can save time by increasing scope visibility across the entire project, which allows engineering & construction (E&C) firms and owner operators to regularly achieve efficiency improvements of 50 to 75% in their estimating activities.
- ACCE helps estimating professionals rapidly and reliably conduct conceptual estimates at the earliest stages of project definition, which typically requires multiple, large engineering teams to design, estimate and construct, the company said. ACCE users working on projects of all sizes also benefit from these same capabilities.
- With critical decisions made early in the capital project cycle having a major impact on project economics, scalable “megaprojects” push the limits of engineering, fabrication, construction and transportation resources. The latest ACCE enhancements provide the ability to handle projects of expanded scope and scale, empowering estimators and executives to make effective capital cost decisions among different alternatives.
- As with previous releases of AspenTech’s cost estimation software, ACCE incorporates yearly updates for capital materials and equipment pricing to improve the accuracy of project estimation activities.
- aspenONE Engineering is an integrated engineering lifecycle solution - from conceptual design through to plant start-up and operations support - enabling process engineers to model, build, and operate safer, competitive, and more reliable process plants, the company said. Owner operators and E&C’s are able to reduce capital and operating costs, increase engineering efficiency and quality, and accelerate time to market with payback in months instead of years.
Financial terms of the arrangement were not disclosed.
Further details about ACCE can be found here.
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