Yukos Oil Corporation, Russia's largest refiner, has initiated a major project with AspenTech's petroleum supply chain software to improve its logistics and refinery planning.
Yukos has signed a contract with AspenTech to implement its integrated supply chain solution for the petroleum industry in a deal worth several million dollars in licence fees and services. The project is AspenTech's first major contract in the Russian market, and both Yukos and AspenTech will explore opportunities to implement additional technologies within Yukos' production and supply organisations over the next few years.
AspenTech's software will assist Yukos to make better decisions in balancing demand and supply, and in matching supply to market opportunities in Russia and other export markets. The solution will also considerably enhance Yukos' efficiency in managing the flow of petroleum products. Owing to the complex nature of the petroleum industry, this requires a sophisticated supply chain solution to ensure that customer demand can be fulfilled.
AspenTech's solutions are being implemented at Yukos' headquarters in Moscow and at its regional refining and logistics centres (in the Samara region and in Eastern Siberia).
Yukos has initially adopted the Aspen PIMS (Process Industries Modeling System) solution and the Aspen Bulk software. Aspen PIMS provides the capability to build multiple refinery planning models, which adapt to optimally match production to product demand, thus improving productivity and overall supply chain agility.
"Yukos is focused on implementing the best technology available to gain a competitive advantage in the oil market," said Nicolai Bychkov, president of Yukos. "By adopting AspenTech's software and more unified business processes, we expect to achieve major benefits over the next few years."
"This contract with Yukos is very important to AspenTech as it is our first major supply chain project in Russia," said Ian Huntly, regional sales manager at AspenTech Africa. "Both Yukos and AspenTech have made strong commitments to make this project a success. AspenTech's solution will enable Yukos to optimise strategic decision making with the goal of maximising margins across the entire organisation."
About Yukos
Yukos is one of the major vertically integrated Russian petroleum companies, and an undisputed petroleum market leader in terms of production growth, refining and light product yield. The company is involved in every aspect of the oil industry - from the well to the filling station. Yukos' three regional oil exploitation units are Yuganskneftegaz, Samaraneftegaz and Tomskneft. The company operates five refineries: Kuibyshev, Novokuibyshevsk, Syzran, Achinsk, and the recently acquired Angarsk Petrochemical Company. Yukos' share in Russian oil refining was 17,5% in the year 2000. Its market network covers 40 from 89 regions of Russian Federation and includes more than 1000 filling stations. The company currently employs 85 000 people and is committed to implementing modern management practices such as good corporate management and transparency of its activities in accordance with international standards. Yukos was the first among Russian oil companies to quarterly issue its financial statements prepared in accordance with US GAAP.
Amanda Strauss, Sales Co-ordinator, AspenTech Africa
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