Client:
· A large oil refinery and a pipeline company, an integral part of an industrial giant. They have 30 production facilities and over 4000 miles of pipelines across multiple states.
Challenge:
· Their challenge is to keep the corrosion in check, to ensure safety and product quality.
· For that, they have millions of corrosion sensors fitted in their pipelines.
· $150 million dollar question? What is the optimal number of sensors needed and where to place them, strategically, based on the configuration, topology, product and few other parameters.
Action:
· A pilot facility was picked to start with
· Our R&D facility became their R&D facility
· We collected all the available data, including 12 years of historical sensor readings
· Our data science team and their SME’s working together developed several algorithms to identify strategic sensor placement opportunities and redundant sensors locations
Results:
· The big insight we got:2/3s of their sensors are redundant.
· Annual cost savings at the pilot facility:over $5 million. Multiply that by 30 facilities they have, the internal opportunity is $150 million.
· The external monetization opportunity:Globally, there are 100’s prospects, with 1000’s of other facilities and pipelines, who need the same solution.
