Lloyd's Register to deliver fully integrated risk-based inspection system at new plant in Korea

Lloyd’s Register (LR), an international provider of engineering and technology-centric professional services, has won a major new contract which will see the company implement a fully integrated risk-based inspection system at S-Oil’s new €4.2 billion (€3.8 billion) residue upgrading and Olefin downstream complex (RUC/ODC) plant in Ulsan, Korea.

“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 realise its goal to modernise and expand its integrated refining and petrochemical operations,” said Mr. Pyeong-Sik Shin, Asset Integrity and Development Solutions Manager of LR for Korea. 

LR will deliver RBI consultancy services on issues 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.

“We have been working with LR’s in-house experts for some time. 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,” said Mr. Dong-Hak Lee, S-OIL’s Inspection Department Manager. 

“Coupled with its vast proven technical experience, we believe LR’s continued responsiveness will be pivotal in accelerating our momentum to successful project completion in 2018. This will in turn ensure S-OIL can improve its profitability and achieve long-term competitiveness by converting low-cost heavier hydrocarbons into high-value olefins and fuels.”