Providing full asset life cycle capability

Providing full asset life cycle capability
Published: 12 January 2020 - 5:30 a.m.
By: Martin Menachery
What do you see as the most important factor influencing the global market for refining and petrochemical products?
From my perspective, I believe the most important factor influencing the industry is adaptability and sustainability. Our customers’ assets in the global refining and petrochemicals market need to be able to adapt to the significant change that is happening in our industry while at the same time delivering a sustainable business performance. Our partners are facing multiple global challenges such as the IMO marine fuel sulphur requirements, increasing demand for petrochemical products and environmental pressures such as climate change leading to a reduction in single use plastics.

What products and services are you looking to showcase at ME-TECH 2020? What are some of the key points that are going to be highlighted?
Wood provides a full asset life cycle capability from delivering early concept/feasibility designs through to project delivery and decommissioning services. Alongside this, we have our own proprietary technology portfolio and can support our customers with optimising the performance of existing assets throughout their operational life.

This year at ME-TECH, we will be demonstrating how our extensive suite of capabilities can support our customers in adapting to the current challenges in our industry, how they can achieve the greatest business benefit from the future energy market and why Wood is a partner of choice for ensuring the sustainability of customers’ assets and operations.

What are some of the key trends in downstream technology that you think the industry should be paying more attention to? And why?
Process technology in downstream industries continues to evolve; however, most of this is through incremental improvements. I believe the most exciting trend in our industry at the moment is the adaptation and delivery of digital solutions. These range from connected design tools that can provide efficiency of delivery through construction, to the ability to optimise operations from an asset performance, maintenance and life cycle perspective.

The challenge is recognising that investment in these digital tools in the early stages of the project life cycle – during Pre-FEED/FEED – is imperative and the efficient collection, use and distribution of data will provide significant benefits throughout the operational life of the asset.

What do you see as the most prospective direction for refiners and petrochemical plants in the Middle East (refining and petrochemical integration, zero fuel oil production, specialty chemicals, etc.)?
The trends towards zero fuel oil and petrochemicals integration will continue as the major players in the Middle East look to diversify their economies away from crude oil exports. However, we are also seeing a trend of expansionary investment by the Middle Eastern national oil companies into geographies where there are major product demand centres. Balancing the need to both diversify at home, and broaden into a global operator, is a significant challenge.

Across the industry globally, we need to recognise the energy transition trend and adopt the most efficient practices, consider clean energy integration and potentially carbon capture and use these to increase the sustainability of the industry.

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