S-Oil awards Lloyd’s Register RBI contract for olefin complex
Lloyd’s Register (LR), the leading provider of engineering and technology-centric professional services, is awarded a new contract from S-Oil Corporation (S-Oil) covering the implementation of a fully integrated risk-based inspection (RBI) system. Based at S-OIL’s largest investment project—a new $4.2 B residue upgrading and Olefin downstream complex (RUC/ODC) plant in Ulsan, Korea—the new contract will commence this month.
“We are delighted that S-OIL has decided to adopt our AxximTM software package to make its management of failure probability more systematic and efficient. In extending our RBI services to S-OIL’s strategic RUC/ODC project, we eagerly anticipate helping S-Oil successfully realize its goal to modernize and expand its integrated refining and petrochemical operations,” said Mr. Pyeong-Sik Shin, Asset Integrity and Development Solutions Manager of LR for Korea.
The new contract will see LR deliver additional RBI consultancy services across areas such as systems, software training, and inspection management modules. LR’s team of experts will also assist in the selection of thickness measurement locations for equipment and pipes.
The project is scheduled to be completed in 2018.
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