Thursday 28 Mar 2024
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KUALA LUMPUR (Aug 11): Adopting best practices and implementing integrated process optimisation software help oil and gas (O&G) companies drive efficiencies and maximise returns, said AspenTech Inc senior vice-president of sales for Asia-Pacific Dr Filipe Soares-Pinto.

In an article titled Adopting a system of success, Soares-Pinto said in Asia-Pacific, the main driver for the O&G and petrochemical businesses is being able to adapt quickly to energy prices and market fluctuations.

"Taking advantage of changing industry dynamics and overcoming complexity is vital to achieve operational excellence and increased profits," he said.

According to a recent report by petrochemical giant ExxonMobil Corp, Asia's share of global energy consumption will rise from 38% in 2010 to 45% by 2040.

ExxonMobil also predicted that Asia's demand for oil will grow 38% by 2025 and 57% by 2040. Asia's demand for gas, meanwhile, is expected to grow 91% by 2025 and 159% by 2040.

"Organisations face increasing pressure to reduce costs and meet customer demand in the fastest way possible, and the more a company optimises its operations, the more profit it will make," said Soares-Pinto.

He added that technological breakthroughs open up possibilities for stakeholders across the business to improve performance, whether producing faster, more agile analytics aimed at modelling and simulating, or improving decision-making.

"In Asia, roles and duties frequently change and this means engineers need to be more flexible. For example, a scheduler may work in a plant for a couple of years and then move on to another role elsewhere.

"[Therefore] accessibility to easy-to-use integrated software tools help new chemical engineers learn the industry and apply themselves quickly to their roles," said Soares-Pinto.

He emphasised that capitalising on market opportunities can create commercial advantage.

"Therefore, understanding better the dynamics of crude grades, natural gas liquids and petrochemical feedstock is important to be able to take measures that will reduce adverse impact on margins," said Soares-Pinto.

Many energy companies and process manufacturers have standardised on AspenTech's process optimisation software.

AspenTech has over 30 years of innovation and finds creative solutions to problems in the engineering, manufacturing and supply chain industries.

"The aspenONE software suite allows users to become proficient faster, bringing the power of optimisation to more people in engineering, operations, planning and scheduling across the enterprise; and as a result, companies have achieved operational excellence and become more commercially profitable," said Soares-Pinto.

He added that Asia offers enormous potential to capitalise on cheaper feedback for its petrochemicals industries.

"Bringing distinct operational areas together into a cohesive, optimised system and doing so across the broader value chain will overcome complexity, drive greater efficiency measures and increase profitability," said Soares-Pinto.

 

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