COLUMBIA, Md., Jan. 9 /PRNewswire-FirstCall/ -- GSE Systems, Inc. (GSE)
(Amex: GVP), a leading global provider of real-time simulation and process
control solutions for the energy and process industries, announced today a
contract award from STATOIL of Norway to upgrade the Residual Catalytic
Cracker (RCC) and Gas Concentration Unit (GCU) models of the Mongstad Refinery
simulator. The project is to replace the previous MBBS Simulation System with
the latest SimSuite Pro version 3.2, and to update the process models to
reflect the current design of the plant. The Company will also upgrade the
interface between the simulator and Bailey Infi-90 Distributed Control System
(DCS) using its recently developed OPC driver (OLE for Process Control).
"This is a continuation of a series of successful simulation projects,
which began with the first simulator project awarded from the Mongstad
Refinery in 1988. Our new OPC interface allows SimSuite Pro to easily talk to
a variety of distributed control system products in the market, making
SimSuite Pro a viable alternative regardless of the process control system,"
said Majid Mirshah, Director of Process Simulation at GSE.
STATOIL has purchased two other simulation models from GSE for the Crude
Distillation Unit and the CO Boiler Unit. STATOIL uses the real-time dynamic
simulators to train operators for plant startup, shutdown and steady state
operations under normal and abnormal conditions. In addition, STATOIL has
used the simulator to verify and improve the DCS control strategy, as well as
to tune and optimize the plant controllers. By applying the Operator Training
Simulator, STATOIL can train the operators effectively, maintain their good
safety record, and prevent plant shutdown due to malfunctions or operation
errors.
"We are pleased once again to work with GSE for these new projects to
maximize the benefits that simulation has provided to our staff," said Kjell
Leikvoll, the Simulator Manager at STATOIL.
The oil refinery at Mongstad near Bergen in western Norway is a modern,
highly upgraded facility with an annual capacity of 10 million tons and is
ranked as the largest refinery in Norway. This facility belongs to Mongstad
Refining, which is owned 79% by STATOIL and 21% by Shell.
GSE Systems, Inc. is a real-time simulation, process control, and
automation company with three decades of experience, over 500 applications,
and 200 customers in more than 30 countries. Our software, hardware and
integrated solutions leverage proven technologies to deliver real-world
business advantages to the process and power industries worldwide including
specialty chemical, food and beverage, petroleum refining, pharmaceutical, and
fossil and nuclear power generation. GSE Systems is headquartered in Columbia,
Maryland with offices throughout the United States. Our global locations
include offices in Japan and Sweden. Information about GSE Systems is
available via the Internet at http://www.gses.com .
This news release contains forward-looking statements that involve risks
and uncertainties. The actual future results of GSE Systems may differ
materially due to a number of factors, including but not limited to delays in
introduction of products or enhancements, size and timing of individual
orders, rapid technological changes, market acceptance of new products and
competition. These and other factors are more fully discussed in the
Company's annual report on Form 10-K for the year ended December 31, 2001 as
filed with the Securities and Exchange Commission.
SOURCE GSE Systems, Inc.
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Related links:
http://www.gses.com
CONTACT:
Gill R. Grady, Senior Vice President of GSE
Systems, Inc., +1-410-772-3500, or general info, Marilynn Meek,
+1-212-445-8451, or analyst info, Susan Garland, +1-212-445-8458,
both of FRB Weber Shandwick
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