Lloyd’s Register (LR) has secured a contract to implement a fully integrated, risk-based inspection (RBI) system at S-Oil’s $4.2bn residue upgrading and Olefin downstream complex (RUC / ODC) plant in Ulsan, Korea.
LR provides engineering and technology-centric professional services and will begin the execution of the contract later this month.
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Under the new contract, the company will deliver additional RBI consultancy services covering areas such as systems, software training, and inspection management modules.
LR Korea asset integrity and development solutions manager Pyeong-Sik Shin said: “We are delighted that S-Oil has decided to adopt our Axxim 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 realise its goal to modernise and expand its integrated refining and petrochemical operations.”
In addition, the company will assist in the selection of thickness measurement locations for equipment and pipes through its team of experts.
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By GlobalDataS-Oil inspection department manager Dong-Hak Lee said: “Apart from its high-quality RBI Software (Axxim) and RBI resources, the team’s expertise in corrosion specialties such as propylene oxide and polypropylene units will bring tremendous value to new processes at the integrated RUC / ODC complex.”
With the partnership, S-Oil intends to complete the project next year, which will lead to improved profits and long-term competitiveness by converting low-cost heavier hydrocarbons into high-value olefins and fuels.
