Invensys Signs Strategic Alliance with NC DIT and TimeZYX Group – Partnership delivers reservoir and surface facilities simulation to oil & gas industry –
NOVEMBER 17, 2010/LONDON – Invensys Operations Management, a global provider of technology systems, software solutions and consulting services to the manufacturing and infrastructure operations industries, today announced that it has entered a new partnership with Russia’s National Center for Development of Innovative Technologies (NC DIT), based in Moscow.
Under the terms of the agreement, TimeZYX Group, a leading organization within the NC DIT focusing on improving efficiency in the use of natural resources, will combine its reservoir simulation package, MKT, with Invensys Operations Management’s SimSci-Esscor® simulation software to deliver a more integrated reservoir and surface facilities simulation system.
“This partnership will reinforce our presence in the Russian oil and gas industry, providing new opportunities to offer our customers the highest level of optimized technology,” said Stuart Batchelor, vice president, emerging markets, Invensys Operations Management. “Combining our industry-leading PIPEPHASE™ surface facilities simulator with TimeZYX’s reservoir simulation module will provide customers the technology they need to make better, more-accurate reserve estimations as they pursue productivity excellence.”
The new solution will provide operators with a better understanding of the oil and gas reservoir behavior with regard to the interaction between gathering stations and the surface network. By simulating “what if” scenarios, oil and gas companies will be able to increase the recovery factor and reservoir predictability.
“We look forward to being a partner of Invensys Operations Management, and we believe that this new simulation system will help our customers reduce their capital and operating costs through better, more confident decisions,” said Valentin Tsoy, vice president at NC DIT and president, TimeZYX Group.