Monday, Aspen Technology, Inc. (AZPN), a provider of software and services to the process industries, said it inked a multimillion dollar contract with oil & gas facilities service provider Petrofac. The deal will result in aspenONE Engineering being deployed across Petrofac's global operations.
According to Aspen Technology, the flexibility of the token-based aspenONE Licensing Model allows AspenTech customers to deploy software more easily across multiple locations.
Mohan Narasimhan, global chief information officer, Petrofac, commented, "Expanding and standardizing on aspenONE Engineering solutions will allow us to enhance the efficiency of our engineering teams and integrate more closely with our customers. The flexibility of the licensing model also allows us to use the software in multiple parts of our organization as market requirements change."
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.