Lloyd’s Register (LR) gained a new contract from S-Oil Corporation (S-Oil) covering the implementation of a fully integrated risk-based inspection (RBI) system, according to an industry resource on June 20. LR is a global engineering, technical and business services provider wholly owned by the UK-based Lloyd’s Register Foundation.
The deal, the largest-ever investment project of the Korean oil refinery, reached for US$4.2 billion for residue upgrading and Olefin downstream complex (RUC/ODC) plant in Ulsan, Korea. The project will commence this month.
“We are delighted that S-OIL has decided to adopt our Axxim software package,” said Shin Pyeong-sik Shin, Asset Integrity and Development Solutions Manager at LR in Korea, adding, “We sincerely anticipate that our RBI services to S-OIL will help S-Oil successfully realize its goal to modernize and expand its integrated refining and petrochemical operations.”
Under the new contract, LR will deliver additional RBI consultancy services across areas such as systems, software training, and inspection management modules. LR’s team of experts also will assist in the selection of thickness measurement locations for equipment and pipes.
“We have been working with LR’s in-house experts. 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 Lee Dong-hak, S-OIL’s Inspection Department Manager