Honeywell to Integrate Unisim with Integrated Production Modeling Software from Petroleum Experts Ltd.


Oil and gas customers will use the integrated technology to link models through a single composite flowsheet

PHOENIX, Mar 09, 2005 -Honeywell (NYSE: HON) today announced plans to combine elements of UK-based Petroleum Experts' Integrated Production Modeling (IPM) software with UniSim(TM) Design to form a system that will allow oil and gas customers to use a single composite flowsheet to link reservoir models, well models and gathering-network models with the UniSim model of the separation process.

"The key here is that Honeywell can provide process models that are compatible with Petroleum Experts' technology," said Mark Hagen, director of Advanced Solutions for Honeywell Process Solutions. "Integration is very powerful because it allows all functions within a customer's organization to communicate with a single tool, a consistent set of models and technology."

UniSim Design helps engineers create steady-state and dynamic models for plant design, performance monitoring, troubleshooting operational improvement, business planning and asset management. It is part of Honeywell's family of simulation software and engineering services designed to improve performance throughout the lifecycle of a processing plant.

IPM is a set of online tools that allow oil and gas petroleum engineers to design complete field models of oil or gas production systems, including the reservoir, wells and surface network. Specifically, Honeywell will integrate UniSim Design with IPM's PROSPER (TM) (well modeling and design), GAP(TM) (multiphase network optimization) and RESOLVE(TM) (IPM controller) functions.

The new system allows for best-in-class, closed-loop, field-wide optimization, which enables customers to maximize production of an individual field or operation with existing equipment. Additionally, the new system allows customers to manage and optimize assets across multiple facilities by linking wide area optimal planning tools for multiple facilities and interactions between them and by linking to ERP systems.

This represents a significant step forward in the upstream industry. The operative link between UniSim Design and the Honeywell Advanced Planning and Scheduling tools - which align production planning with corporate goals - provides a significant opportunity for upstream applications to benefit not only from "what-if" production plan scenario analysis, but also from overall business-plan optimization.

"An operating company needs to have and maintain a holistic view of its production capabilities in order to achieve top level performance," said Hamid Guedroudj, Petroleum Experts Ltd. director. "This can only be done with a modeling approach that facilitates heterogeneous flowsheets and can optimize the whole envelope. This new system isn't just about the operation side - it's also about the benefits to the business-planning side of the oil and gas industry."

"Field-wide optimization in oil and gas production requires a multidisciplinary approach, both in technology and solution capability," Hagen said. "This new solution allows optimization of assets from reservoir, well, pipeline network and process facilities consistently and accurately."

Petroleum Experts Ltd., a privately owned company, leads the upstream oil and gas industry in developing a set of engineering modeling tools commonly know as Integrated Production Modeling and IPMfm (Integrated Production Management) that enable efficient oil and gas field management and production optimization. For more information on the companies products access www.petex.com.

Honeywell International is a $28 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London, Chicago and Pacific Stock Exchanges. It is one of the 30 stocks that make up the Dow Jones Industrial Average and is also a component of the Standard & Poor's 500 Index. For additional information, please visit www.honeywell.com. Honeywell Process Solutions is part of Honeywell's Automation and Control Solutions group, a global leader in providing product and service solutions that improve efficiency and profitability, support regulatory compliance, and maintain safe, comfortable environments in homes, buildings and industry. For more information about Process Solutions, access www.honeywell.com/ps.

Contact:

Erik Rasmussen
602-313-4054
erik.rasmussen@honeywell.com

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