LONDON National Iranian Oil Company (NIOC) has purchased a suite of simulation software products, which would enhance asset utilization and more importantly reduce its operating costs.

The 20-year licensing agreement signed with Spain's Hyprotech, a subsidiary of UK's AEA technology, covers the use of the 'hysis' software suite, which is essentially a simulation model used by managers and engineers in the process industries.

The statement issued by the company described the program as software that would "help link critical business objectives to the design of new plants, or the revamp and evaluation of existing plants," IRNA reported.

The agreement is the result of nearly two years of intensive evaluation by NIOC, hoping to integrate its operational data and other applications into one single platform.

"With this agreement" claimed Hyprotech, "NIOC has renovated its engineering tools, which leads them to move toward better asset utilization."

"Reducing operating costs" is another major benefit of the software purchase highlighted by the statement, which will enable "a more flexible operation and turning international opportunities into profit."

The statement quoted Talebi, NIOC's director of Computer and Information Technology Department, saying the purchase will give them "the ability to step up all in-house knowledge, already licensed technology and best business practices."

Hyprotech describes NIOC's decision as an "important milestone in the renovation of Iranian refining, gas processing and petrochemical industries."

NIOC is believed to be the first Middle Eastern company to purchase the program, the cost of which has not been disclosed.