Schneider Electric has announced the launch of EcoStruxure Power & Process (EP&P) to drive efficiency and augment profitability in oil, gas and petrochemicals sector.
The company has partnered with Microsoft to create commercial internet of things (IoT) solutions in the areas of energy management and automation, thus bringing power and process systems together. Through this platform, Schneider Electric aims to address the challenges of market volatility in the O&G sector, while reducing CapEx and OpEx by 20-30 per cent, a release from Schneider Electric noted.
When power and process management systems operate as separate silos, industrial organisations soon find themselves at a competitive disadvantage. Separate teams of engineers and programmers are needed to build up and maintain operations. As a result, the cost of supporting these complex, customised interfaces across the lifetime of the asset is high and it restricts the organisation’s ability to respond to changing market conditions.
With the introduction of EcoStruxure Power & Process in the Indian market, companies in the oil, gas & petrochemical sector can break down the traditional barriers between power and process control systems to solve critical engineering and operating challenges. This can result in better returns on capital employed (ROCE), with a 20 per cent reduction in CapEx, 15 per cent drop in downtime, and a 3 per cent growth in profitability.
Speaking on the launch, Anil Chaudhry, Zone President & Managing Director, Schneider Electric India, said, “The Indian hydrocarbon sector is at the cusp of major transformation as companies across the value chain step up their efforts to boost India’s self-sufficiency in oil and gas, expand refining capacities, and set up pipeline infrastructure for transportation across the country. Through our partnership with Microsoft we aim to deliver real/tangible solutions and measurable business results for oil and gas players, improve efficiency, bring down cost of running operations and raise profitability.”
By leveraging EcoStruxure IoT-enabled system architecture and platform, customers can connect assets that are the centre of their projects with assets that are at the center of their operations across the full lifecycle of their plants, including their supply chains.
By offering both tangible IoT solutions that are available today as well as leading edge innovation to address future needs, customers will benefit from the blend of domain/subject matter expertise from Schneider Electric and industry-leading cloud technology from Microsoft, the release added.
Featured photograph shows the launch function of EcoStruxure for the oil & gas industry on September 11, 2019, at New Delhi.