Friday 22 November 2013

South Korea’s largest refining and petrochemicals company optimises performance!

Invensys has rendered a multi-year, multi-million dollar corporate license to SK innovation.

Under the terms of the agreement, SK innovation, including its subsidiaries, will use Invensys’ SimSci® ROMeo® software to optimise and improve the performance of its refining and petrochemical operations in real time. SK Energy, one of SK Innovation’s subsidiaries, is Korea's largest oil refiner with a capacity for 1.1 million barrels-per-day of crude distillation and operating approximately 4,200 service stations across the country. Additionally, SK Global Chemical, another of SK Innovation’s subsidiaries, produces 5.5 million tons of petrochemical and polyolefin products each year and is capable of producing 860,000 tons of ethylene per year. 

“Invensys provides the true partnership we need as we execute our operational excellence program,” said Mr. Cheon, real-time optimization project manager at SK innovation. “This relationship and their SimSci solutions will allow us to apply new, consistent modeling techniques that should improve the real-time performance of our assets across the lifecycle of our refining and petrochemical operations.”

An integrated online and offline optimization solution for the refining, petrochemical and gas processing industries, SimSci ROMeo optimisation software handles equipment monitoring, utilities optimisation and material balance in open- or closed-loop mode.

“ROMeo software allows our customers to build upon and unite existing automation and IT systems with technology applications from Invensys, our ecosystem partners and other third-party providers so they function as one, holistic, real-time business optimization solution,” said Ravi Gopinath, president of Invensys’ software business. “This agreement allows us to help SK innovation achieve real-time operational excellence, as well as create more value and contribute to the wellbeing of their customers and other stakeholders.”

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