Woodhouse & SABIC SHARQ announce Asset Lifecycle Assessment project.

SABIC and The Woodhouse Partnership Ltd are delighted to announce an asset lifecycle assessment project commencing later this month, September 2021, at their Eastern Petrochemical Company (SHARQ) site in Jubail.

The project will take place over a three-month period and implement the Strategic Asset Lifecycle Value Optimization (SALVO) process and the related Decision Support Tools (DST) evaluator software to assess 15 critical assets.

The objective is to demonstrate how SALVO effectively meets the challenge of building optimized asset investment plans and justifies the necessary reinvestment to renew and modernize critical assets.

The collaboration includes a comprehensive skills transfer program, delivery of Decision Support Tools™ Asset Strategy Evaluation software and Woodhouse Academy training to a core team of SHARQ engineers that will result in SHARQ having the capability to implement asset life assessments process inhouse.

The project will be led by Mohamed Saber Abdulaziz, Sr. Engineer, RCM from SHARQ and Woodhouse principal consultant, Andy Hunt.

Mohamed Saber commented “As our assets deteriorate and new technology becomes available, we at SHARQ have a major challenge to build the business cases for renewing and upgrading our assets. We see major benefits from this project, not just the ability to demonstrate the value of our asset investment decisions, but also in raising the skills of the wider SHARQ team through their involvement in the process. Because we know these types of decisions need a cross-functional team to build them, we have selected over 20 people from across the SHARQ business to be involved in this project.  The team is made up of APM, Discipline Engineers, Process Engineers and Operations Eng. / Specialists so we can prove value for money and present a clear business case for our future investments.”

Andy Hunt, who has worked on a number of asset life assessment and Turn Around Cost Optimisation (TACO) projects at SABIC plants in Jubail and Europe said “This is a really exciting project. We look forward to working with the local teams to train them in the use of DST Asset Strategy Evaluator software, our worlding leading analytical tools used to complete the complex studies for major asset investments and turnaround strategies. More importantly, we will be providing hands-on experience working with the local teams to run the asset evaluation workshops and build in-house capability and expose the process to as many people in SHARQ as possible.”

To learn more about the organizations and consultancy services, decision support software, and training services provided by Woodhouse, please visit www.twpl.com

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John Woodhouse

With 30 years’ experience in utilities, oil & gas, transport and other sectors, John is one of the most widely known experts in integrated asset management projects for some of the largest companies in the world.

John is a Founder and Life Fellow of the IAM; he has written 4 books, chaired the development of BSI PAS55 and represents the UK on the ISO55000 committee.

He also led the international MACRO and SALVO collaboration projects in optimised asset management decision-making.

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