July 8, 2011

Haarlem (Netherlands), July 8th 2011

Princeps, developer of specialized tools targeting the Oil & Gas Industry, has launched two new applications for optimized refinery operations, both based on Paragon’s optimization software AIMMS.

  1. OPTIMIX for multi-period blending enables the refinery operations manager to optimize product blending, enabling them to realize higher value out of the available components. Optimix can perform multi-period blends over a planning horizon of several weeks. It is a generic tool that can be easily configured to any refinery and bring instant value for money. Optimization can be done on component costs, quality specifications give-away or target recipes. The system can handle hot rundown components as well as tank components, including tanks in running-gauge operations. It also takes into account tank rotation and logistical constraints, which are unique features according to refinery specialists.
  2. COMPASS for crude oil blending and scheduling enables the refinery operations manager to formulate crude oil blends, determine optimal cut-points and schedule crude transfers and crude runs in order to maximize the crude distillation units’ throughput. Compass can handle several distillation units and takes into account all operational constraints such as feed and rundown capacity limitations, tankage capacity limitations, rundown quality requirements and all kinds of logistical constraints.

Both tools are typically used as companions to a simulation-based refinery scheduling system and are designed to be easily interfaced with such systems like Aspentech.

Princeps brings together engineers and experts specialized in industrial processes and applied mathematics for the development of optimization solutions for major Oil & Gas companies such as Total, BP, Saudi Aramco and Atofina.

Hamid Chehade, General Manager of Princeps explains ‘We are pleased with the launching of Compass and Optimix because they add value to the refinery operations of our clients. The expected benefit of each of these applications is in the magnitude of 10-20 cents/crude oil barrel. We selected the modeling software AIMMS because of its flexibility and speed in adapting our model to various refinery operations and its ease of use in capturing any specific rule and/or constraint which can have impact on the final optimized result.’

Christophe Frère, VP EMEA at Paragon, adds ‘We are very pleased with our new partner Princeps. Their in-depth knowledge of the refinery industry and their advanced optimization expertise are the right fundaments on which to build a strong commercial relationship. The decision makers — the users of Compass and Optimix — do not need to go into science themselves but they can apply the benefits of it for their companies.’

About Paragon Decision Technology

Paragon Decision Technology is an innovative technology company with offices in The Netherlands, United States, and Singapore. For over 20 years, Paragon has been developing and selling AIMMS, a unique mathematical optimization platform. AIMMS customers can create optimization engines and solutions that enable optimal decision making on complex strategic, tactical or operational problems. We are passionate about our mission of bringing the benefits of OR to society. In addition to our platform AIMMS, our employees, partners, and academic network are vital to our success. The depth and breadth of their knowledge regarding OR and optimization modeling enables our customers to capture their business problems in well-defined AIMMS models.

Media contact:

Mrs. Miriam Korstanje

E-mail: Miriam.Korstanje [at] aimms.com

Tel: +31 (0)23 5511512


About Princeps

Princeps is a consulting and software development company, that specializes in the application of scientific management tools for industrial organizations. Our approach is based on the utilization of optimization and simulation technologies to solve complex planning and scheduling problems with a special focus on the Oil & Gas sector.

Our clients include major oil corporations such as Total, BP and Saudi Aramco.

Media contact:

Mr. Hamid Chehade

General Manager

E-mail: Hamid.Chehade [at] princeps.com

Tel: : +33(0)178140130


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