How Cosmo Oil deployed a process digital twin to save $2 million per business unit every year through real time optimization
Cosmo Oil is Japan’s third largest refining company, with a total CDU capacity of 363,000 BPD. Cosmo selected AVEVA to develop a Process Digital Twin to optimize operations. The company’s investment in real-time data and analytics achieved ROI in under one year, with annual savings of more than $2M per year for every unit where it is deployed.
“AVEVA has a vision for process optimization and a roadmap to take companies from process control to real-time optimization to AI-infused solutions, all oriented around their notion of the Process Digital Twin.”Mr. Masayuki Yamamoto
Assistant Manager, Operation Group, Refining &Technology Dept.
Cosmo Oil Co., Ltd.
Goals
- Cosmo oil needed extra capacity to quickly adapt activities in real-time to improve production efficiency and retain safe and stable operations
- Using a digital twin to generate precise operating information to enable teams to improve performance and make informed decisions at an accelerated pace
- To manage and optimize operations to respond to frequent crude feedstock switching and to target fluctuating prices and optimum operating points
Challenges
- Need to remain competitive in a crowded market where other refineries are already deploying real time optimizations
- Team wanted to leverage real time optimizations based on auto-tuned, live data drawn from first principle rigorous simulation technology.
- Desire to optimize plant operations by factoring-in product prices, utility costs, and equipment constraints through closed-loop real-time optimization generating precise operating information, aligning operations with optimum targets.
Results
- Cosmo Oil achieved $2.3M/year of benefits from its CDU process optimization through more efficient processes and yield improvement.
- Overall, the optimization initiative saw payback in less than one year.
- The team will use the real-time optimization process to improve energy efficiency and boost sustainability in their operations.
Solution
The following AVEVA solutions were implemented:
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