Optimizing chemical processes requires input from multiple disciplines – engineering, costing, safety and environmental. Evaluating these factors early in the design lifecycle significantly improves the quality of the design and reduces time spent collaborating across teams.

Accuracy in cost estimation is crucial for the success and feasibility of capital projects. Yet cost estimates often involve uncertainty and unforeseen circumstances that can negatively impact the project timeline and budget.

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As sustainability targets drive the energy industry towards a net zero future and energy security concerns intensify, companies are challenged to meet these competing demands within financial and workforce restraints. Owners and EPCs must cater to short-term energy demands while simultaneously positioning themselves for the long-term energy transition projects gaining traction.

As digitalization initiatives sweep through engineering departments at both EPC and Owner companies, executives are striving to better connect their design, engineering and estimating workflows. With improved design outcomes and more accurate and timely estimating on the line, the clock is ticking to deliver results from these initiatives.

Sustainability remains top-of-mind for most executives as they work to balance environmental concerns with business performance. Digital solutions have emerged as a key enabler to help companies make progress toward their sustainability goals.

未来を定義するということは、過去に立脚するということです。世界が変化し続ける中、アスペンテックにはお客様の未来に向けた準備を支援してきた経験があります。アスペンテックは、AIの力を生かして信頼性、効率性、俊敏性を新たなレベルに引き上げることにより、お客様がより安全に、より地球にやさしく、より長く、より素早く企業活動を行えるようお手伝いをします。未来は今、始まります。アスペンテックと共に歩む未来とはどのようなものなのか、このビデオでお確かめください。

Hydrocarbon Processing Editor-in-Chief and Associate Publisher, Lee Nichols, discusses with Paul Donnelly, AspenTech Industry Marketing Director how EPC firms are adopting and using new digital technologies, and most importantly, how these technologies are improving return on investment for these organizations.

EPC firms that were already under stress from the COVID-related downturn are investing heavily in digitalization initiatives. According to a June 2020 McKinsey report, EPCs have an opportunity to double their profitability by embracing a handful of “emerging disruptors.” One of these disruptors, digitalization of processes, is within reach for most EPCs and aligns with efforts and initiatives already underway at many firms.

While most chemical companies have sustainability initiatives in place with varying reliance on digital technologies to achieve these goals, challenges remain. What are the key enablers to eliminate emissions and waste, extend material use and regenerate natural systems? How do new innovations accelerate this effort?