Invensys, a supplier of industrial software, systems, and control equipment, has rendered a multi-year, multi-million dollar corporate license to SK innovation, an energy-focused firm based in Korea.
Under terms of the agreement, SK innovation, including its subsidiaries, will use Invensys’ SimSci ROMeo software to optimize 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 one 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.
An integrated online and offline optimization solution for the refining, petrochemical, and gas processing industries, SimSci ROMeo optimization software handles equipment monitoring, utilities optimization, and material balance in open- or closed-loop mode.
For more on solutions for petrochemical processing, download this case study.