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.

AspenTech's performance engineering solution reduces plant CAPEX and OPEX while improving time to market, energy efficiency and profit margins.

Repeatable designs are used increasingly in the process industry to minimize capital costs and reduce project risk and uncertainty. Using the highly integrated aspenONE® Engineering suite, engineering teams can easily capture best practice designs, and rapidly reuse them on new projects.

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.

How are you using technology to implement the changes needed to stay competitive? Though market uncertainties remain, one thing is clear: the ability to integrate the production of chemical intermediates into the refining process will be a profit driver in the coming years.

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?

Scope changes in early feasibility studies cause cost estimators to struggle updating the estimate. Aspentech's Decision Analyzer functionality in Aspen Capital Cost Estimator simplifies this workflow with just a few clicks. Start your 1-day online trial today and take a guided tour to evaluate the economic impact of rescaling plant capacity and modifying the engineering or construction location.

Changes are a part of the life of an estimator. Aspen Capital Cost Estimator helps you make those changes quickly, so you can analyze and address the updated costs and man-hours. Start your 1-day online trial today to take a guided tour to add spare equipment, include a quoted cost and change the material of construction for the equipment.

Estimators can compare both construction methods, analyze cost and schedule tradeoffs and support an early optimal execution decision. Start your 1-day online trial today to take a guided tour of creating a modular area, defining construction and engineering workforces, configuring the project scope and running an economic evaluation comparison with Aspen Capital Cost Estimator.

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.