November 18, 2010 - Invensys Operations Management entered into a partnership with Russia’s National Center for Development of Innovative Technologies (NC DIT), based in Moscow. Under the terms of the agreement, TimeZYX Group 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.
“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.
About Invensys Operations Management
Invensys Operations Management, a division of Invensys, is a leading provider of automation and information technology, systems, software solutions, services and consulting to the global manufacturing and infrastructure industries. Headquartered in Plano, Texas, its solutions are used by more than 40,000 clients around the world in more than 200,000 plants and facilities.
About TimeZYX Group and NC DIT
Headquartered in Moscow, TimeZYX Group is a leading organization of the “National Center for Development of Innovative Technologies” (“NC DIT”). Well-known research institutes of the Russian Academy of Sciences, design and manufacturing companies are involved in its researches. TimeZYX Group carry out a wide range of research activities and design works in the oil and gas industry, develops new methods of hydrocarbon field search, geophysical nanotechnologies of current state estimation of their development. In the information technologies field this organization has developed and implemented the TimeZYX software for geological and hydrodynamic simulation, monitoring and optimization of oil and gas field development.
