CALGARY, Alberta — We are proud to announce the signing of an long term corporate software and services agreement with PETRONAS, the national oil and gas company of Malaysia and one of the world’s leading LNG companies, making VMGSim™ their exclusive process simulator.
This renews our previous agreement PETRONAS, combining our extensive experience in producing process simulation services and solutions for the worldwide oil and gas industry with their expertise in LNG infrastructure development.
"We've had a long and excellent relationship with PETRONAS over the years and it's one of the reasons we are both very excited with this agreement," said Tony Vysniauskas, VMG’s chief executive officer, adding the agreement also includes more consulting projects.
"This agreement is an obvious expression of their confidence in our software and modeling services.”
PETRONAS can ensure current plants operate as profitably as possible with the development of new processes and technologies.
The scope of the agreement includes modeling processing plants, optimizing operations of existing plants, and collaborating with engineers to troubleshoot specific processing challenges.
"We recognize that we've been providing PETRONAS with exceptional value over the years, which is ultimately why they want to continue working with us well into the future," said Vysniauskas.
The consulting projects with PETRONAS have contributed to new capabilities, features, and enhancements to VMGSim™. These new features are then passed on to VMG’s users with every update.
“In the end, it’s our users who will benefit the most, which is ultimately our main focus,” added Vysniauskas.
In addition to VMG providing process simulation software and support services, the agreement also includes custom development of strategic unit operations and property packages, on-demand technical expertise, consulting on simulation model development, model integration, and advanced process control systems.
PETRONAS will use VMGSim in part to increase Western Canada’s LNG export capacity, which is reflected in their recent acquisition of Progress Energy, a Calgary-based energy company focused on the exploration, development, and production of natural gas in northwest Alberta and northeastern British Columbia.
"Just as this partnership benefits global markets and our worldwide customers, the economic benefits for Western Canada, Alberta, and local communities are substantial," said Vysniauskas.