This document summarizes a whitepaper on integrating capital projects and turnarounds at petrochemical and refining facilities. It discusses the challenges of integrating projects and turnarounds, including scheduling, planning, cost allocation and operational issues. It also provides insights from industry experts on best practices for effective communication, leadership, and use of technology to improve integration. Additionally, it outlines the outlook for increased capital spending and planned projects in the US driven by new regulations and North American exports.
Braskem reported its 1Q15 earnings. Key highlights included average cracker capacity utilization rising to 89%, Brazilian resin market growth of 6-9%, and Braskem's resin sales increasing 6-12%. Braskem's consolidated EBITDA was R$1.5 billion, up 10% from 4Q14. Net income was R$204 million. Leverage as measured by net debt to EBITDA was 2.55x. The Mexico project was 92% physically complete. Priorities for 2015 include renewing the naphtha supply contract, completing the Mexico project, ensuring competitive energy costs, and maintaining financial health.
John Michael Delaney is an experienced sales and marketing executive seeking new opportunities. He has over 30 years of experience developing large capital projects between $1 million to $200 million globally for companies like Matheson Tri-Gas, Air Products, and Pure Air. He is fluent in English and Mandarin.
The document discusses procedures for developing challenge questions and concepts related to challenges. It focuses on ensuring challenges are aligned with organizational goals and have a clear process for implementing ideas generated from the challenge. It also discusses the importance of being able to transform concepts into real projects, products, or services to determine the program's return on investment.
This resume summarizes Louis H. Wang's 30 years of experience driving manufacturing excellence globally through leadership in pulp/paper, nylon, and petrochemical industries. He has identified hundreds of millions in cost savings through continuous improvement teams. As an operations manager, he led plants that achieved 38% profit growth through reliability-focused improvements. He developed design processes that eliminated $77 million in costs on capital projects exceeding $650 million.
STR 581 Week 6 Individual Strategic Plan and PresentationJulie Bentley
Chicago Bridge & Iron (CB&I) is a global energy infrastructure company founded in 1889. It seeks to diversify into conglomerates by acquiring other businesses to increase profits and resources. CB&I will introduce new storage tank products in the Middle East and work on Japan's water infrastructure. It will evaluate the strategic change through milestones like internal implementation by June 2015 and external expansion assessments every 3 months.
Seven quick wins to lower costs and accelerate revenueGuy Barlow
Oil & Gas Industry
Seven quick wins to lower costs and accelerate revenue
The sharp decline in oil prices from 2014 to early 2015 left oil executives scrambling to control losses as prices fell over 50% in six months. As companies assess their project portfolios and decide which projects to accelerate or cancel, there are seven areas that can help lower costs and accelerate revenue: 1) Analyzing portfolios to prioritize the most profitable projects, 2) Assessing portfolio risk to avoid delays and shutdowns, and 3) Dynamic monitoring and reporting of project data for efficient decision making. After project selection, driving down costs involves 4) Improving collaboration and compliance, 5) Managing changes effectively, 6) Integrating efficient supply chains
The panel discusses whether manufacturing companies are doing enough to meet energy and efficiency demands. While some new companies have developed modern, efficient plants, many established plants focus more on growth than efficiency. Significant improvements will come from numerous small changes through smart manufacturing technologies. However, energy-efficient designs are often scrapped for lower upfront costs. More work needs to be done to effectively communicate the long-term benefits of green technologies during the sales process.
BP experienced a major oil spill in the Gulf of Mexico in 2010 due to an explosion on their Deepwater Horizon oil rig. An analysis of BP was conducted using various models to identify problem areas that prevented safe operations. Both external threats such as legal/political pressures and internal weaknesses like ineffective safety management were identified. Change is needed at BP to improve safety practices and rebuild reputation. The organization is ready for change due to past successes with change, an adaptive culture, leadership commitment, and available resources.
Braskem reported its 1Q15 earnings. Key highlights included average cracker capacity utilization rising to 89%, Brazilian resin market growth of 6-9%, and Braskem's resin sales increasing 6-12%. Braskem's consolidated EBITDA was R$1.5 billion, up 10% from 4Q14. Net income was R$204 million. Leverage as measured by net debt to EBITDA was 2.55x. The Mexico project was 92% physically complete. Priorities for 2015 include renewing the naphtha supply contract, completing the Mexico project, ensuring competitive energy costs, and maintaining financial health.
John Michael Delaney is an experienced sales and marketing executive seeking new opportunities. He has over 30 years of experience developing large capital projects between $1 million to $200 million globally for companies like Matheson Tri-Gas, Air Products, and Pure Air. He is fluent in English and Mandarin.
The document discusses procedures for developing challenge questions and concepts related to challenges. It focuses on ensuring challenges are aligned with organizational goals and have a clear process for implementing ideas generated from the challenge. It also discusses the importance of being able to transform concepts into real projects, products, or services to determine the program's return on investment.
This resume summarizes Louis H. Wang's 30 years of experience driving manufacturing excellence globally through leadership in pulp/paper, nylon, and petrochemical industries. He has identified hundreds of millions in cost savings through continuous improvement teams. As an operations manager, he led plants that achieved 38% profit growth through reliability-focused improvements. He developed design processes that eliminated $77 million in costs on capital projects exceeding $650 million.
STR 581 Week 6 Individual Strategic Plan and PresentationJulie Bentley
Chicago Bridge & Iron (CB&I) is a global energy infrastructure company founded in 1889. It seeks to diversify into conglomerates by acquiring other businesses to increase profits and resources. CB&I will introduce new storage tank products in the Middle East and work on Japan's water infrastructure. It will evaluate the strategic change through milestones like internal implementation by June 2015 and external expansion assessments every 3 months.
Seven quick wins to lower costs and accelerate revenueGuy Barlow
Oil & Gas Industry
Seven quick wins to lower costs and accelerate revenue
The sharp decline in oil prices from 2014 to early 2015 left oil executives scrambling to control losses as prices fell over 50% in six months. As companies assess their project portfolios and decide which projects to accelerate or cancel, there are seven areas that can help lower costs and accelerate revenue: 1) Analyzing portfolios to prioritize the most profitable projects, 2) Assessing portfolio risk to avoid delays and shutdowns, and 3) Dynamic monitoring and reporting of project data for efficient decision making. After project selection, driving down costs involves 4) Improving collaboration and compliance, 5) Managing changes effectively, 6) Integrating efficient supply chains
The panel discusses whether manufacturing companies are doing enough to meet energy and efficiency demands. While some new companies have developed modern, efficient plants, many established plants focus more on growth than efficiency. Significant improvements will come from numerous small changes through smart manufacturing technologies. However, energy-efficient designs are often scrapped for lower upfront costs. More work needs to be done to effectively communicate the long-term benefits of green technologies during the sales process.
BP experienced a major oil spill in the Gulf of Mexico in 2010 due to an explosion on their Deepwater Horizon oil rig. An analysis of BP was conducted using various models to identify problem areas that prevented safe operations. Both external threats such as legal/political pressures and internal weaknesses like ineffective safety management were identified. Change is needed at BP to improve safety practices and rebuild reputation. The organization is ready for change due to past successes with change, an adaptive culture, leadership commitment, and available resources.
PROJECT FAILURE - CASE STUDY BYInternational Journal of Computer Applications...Dineshi Gelanigama
This document summarizes three case studies of project failures: British Petroleum oil spill in the Gulf of Mexico, the merger of Chrysler and Fiat automobile companies, and the Millennium Dome construction project in the UK. For the BP case, it describes the 2010 Deepwater Horizon oil rig explosion that caused a massive oil spill and the challenges BP faced in stopping the oil flow. For Chrysler and Fiat, it discusses the 2009 merger of the two automobile companies and the organizational changes faced by the new CEO. For the Millennium Dome project, it notes it was controversial due to cost overruns and other issues. The document then provides recommendations for avoiding project failures.
A white paper/study authored by Katie Klaber of the Klaber Group (consultants). Klaber is the former president of the Marcellus Shale Coalition. The study details how small Pennsylvania companies can be successful in delivering new products and services to the oil and gas industry.
This document provides an overview and agenda for Curtiss-Wright's 2016 Investor Day. The agenda includes presentations on nuclear power and the nuclear aftermarket, an update on AP1000 reactor coolant pumps, and financial and strategic discussions. A question and answer session and tour of the AP1000 reactor coolant pump facility are also included. The document also contains boilerplate legal statements regarding forward-looking projections and the use of non-GAAP financial measures.
Robert E. Kent has over 40 years of experience in the oil and petrochemical industries. He has held leadership positions at several major companies, including CITGO Petroleum, Koch Industries, and Chevron. Currently, he is the President of REK Energy, LLC, which provides consulting services to refining and petrochemical companies worldwide. He has extensive experience managing refineries and leading capital projects valued over $150 million annually.
This document provides an agenda and presentation for a meeting with investors about Braskem. The summary is:
1) Braskem is a leading petrochemical company in the Americas and largest biopolymer producer worldwide, with operations in Brazil, USA, Germany and Mexico.
2) The presentation discusses Braskem's business model, strategy drivers, risks and opportunities, sustainable development efforts, and 2015 financial results.
3) It also provides an overview of Braskem's ownership structure, governance, raw material sourcing and diversification efforts, and competitive position relative to its peers.
Contractor Track: Need for Speed - Project Acceleration, Tech Trends, Logisti...Energy Construction Forum
This presentation discusses driving capital projects in oil and gas to best-in-class execution. Global investment in oil and gas projects over the next two decades is anticipated to be in the trillions. However, many projects historically face cost overruns and schedule delays. Both internal factors like planning and external factors like regulations can impact projects. Operators can improve performance through standardized modularization, new business models, collaboration, and innovation to reduce risks and potentially accelerate projects.
This presentation summarizes Braskem's 1Q14 earnings conference call. Key highlights included average cracker capacity utilization of 85% impacted by scheduled maintenance. EBITDA was positively impacted by international market spreads, real depreciation, and the divestment of water treatment assets. Net income was R$396 million. Leverage as measured by net debt to EBITDA was 2.71x. Braskem continues construction of its Mexico petrochemical complex and advancing the Ascent US ethane cracker project. Priorities include renewing its naphtha supply contract and advancing projects in Mexico and the US to diversify feedstocks.
Eco-Stim Energy Solutions (“ESES”, “Eco-Stim”, or “Company”) is an environmentally focused oilfield service and technology company providing proprietary field management technologies, well stimulation, and completion services to oil and gas producers drilling in the rapidly expanding international unconventional shale markets. Eco-Stim’s proprietary methodology and technology offers the potential to decrease the number of stages stimulated in shale plays through a unique process that predicts high-probability production zones while confirming those production zones using the latest generation down-hole diagnostic tools. In addition, Eco-Stim offers its clients completion techniques that can dramatically reduce horsepower requirements, emissions, surface footprint, and water usage. Eco-Stim seeks to deliver well completion services with better technology, better ecology, and significantly improved economics for unconventional oil and gas producers worldwide.
EcoStim provides well stimulation, coiled tubing, and reservoir management services using proprietary technologies. It has positioned 50,000 HHP of equipment in Argentina ahead of increasing shale drilling activity. EcoStim's growth opportunity is attractive due to supply constraints in Argentina and barriers to entry that limit competitors from rapidly expanding capacity. The company has a strong customer base of major oil and gas producers operating in Argentina and is bidding on several new contracts worth over $50 million as customers finalize 2017 budgets. Argentina's shale development is following a similar path as U.S. plays and is expected to rapidly increase horizontal drilling in coming years, providing significant growth potential for EcoStim.
This presentation provides an overview of an investment opportunity in EcoStim, an oilfield services company. It summarizes EcoStim's plans to refinance and restructure the company through a debt-to-equity conversion, raising $17 million in new capital. This will allow EcoStim to pursue growth in Argentina, where it currently operates, and expand into the US market in Oklahoma in 2017. The presentation outlines EcoStim's technology-driven service offerings and growth strategy, as well as the experience and track record of its management team in previously building and exiting energy companies.
This corporate presentation discusses the company's plans to capitalize on emerging market developments and increasing demand for unconventional oil and gas solutions in Argentina. It highlights the country's large shale resources, ongoing investments by major oil companies, and an undersupplied market that leaves room for the company to expand its operations across multiple market segments. The presentation also outlines the company's leadership team and track record of success building profitable energy service platforms.
The document summarizes the Deepwater Horizon oil spill that occurred when the Macondo well blew out on BP's leased Deepwater Horizon oil rig. It killed 11 people and spilled millions of barrels of oil into the Gulf of Mexico over 87 days. The spill was caused by several factors including well design issues, failed safety systems, organizational and risk management failures at BP, outdated government oversight and regulations, and other contributing external factors. The document analyzes BP and industry strategic risk factors and decision theories that may have led to the accident through an overemphasis on growth and profits without adequate risk mitigation. It concludes with lessons learned about the need for industry and regulatory changes to improve safety practices for offshore drilling.
This magazine article discusses several topics related to the oil and gas pipeline industry:
1) It introduces the pending PHMSA regulation called the Integrity Verification Process (IVP) which will require pipeline operators to validate material records and operating specifications, even though the exact requirements and timeline are still uncertain.
2) It describes how inline inspection tools like the Multiple Dataset Platform (MDS) can help operators comply with IVP by classifying pipe joints into "bins" based on manufacturing characteristics identified by the inspection data. Verifying a sample from each bin using material identification testing can then apply those results to all the joints in that bin.
3) This approach allows operators to establish complete material records for pipelines
ICIS webinar - Shale gas, the US project boom, and the impact on global petro...ICIS
On 27th May, ICIS hosted a free webinar on US shale gas, discussing how it has revitalized the US petrochemical sector, and triggered an unprecedented Project Boom.
Key topics include:
Macroeconomic outlook
US cost advantage vs Europe and Asia
US projects update – ethane crackers, PE, PDH, methanol
Engineering & construction (E&C) challenge
Capital spending (CAPEX) cycles
Global reaction and impact
http://www.icis.com/resources/
Patterson-UTI Energy is an oil and gas services company headquartered in Houston, Texas. It operates over 275 land-based drilling rigs in the US, Canada, and Alaska. It also provides pressure pumping and cementing services. In 2013, the company's revenue was $2.7 billion, similar to 2012 levels, but net income decreased 37% to $188 million. The company pays a quarterly dividend of $0.10 per share. The analyst recommends a "Buy" rating with a target price of $41.04 based on a discounted cash flow valuation through 2015 that assumes a 20.75% revenue growth rate and 11.16% WACC.
This document summarizes information about Highbank Resources Ltd.'s Swamp Point North aggregate project in British Columbia. It outlines the location and access to the project site, describes the measured, indicated, and inferred aggregate resource. It also discusses the mining plan, including initial production rates of 235,000 tonnes per year and permitting for unlimited production. Finally, it provides an overview of the management team and highlights major construction projects driving demand in the region.
This document discusses MnTAP's efforts to help Minnesota businesses reduce solvent usage for degreasing operations while maintaining effectiveness. MnTAP evaluated products at 23 facilities to identify alternatives that reduce VOC emissions and human health risks. Some successful substitutions included replacing lacquer thinner containing HAPs with acetone at one company, and replacing three solvents with a single water-based cleaner at another company. These changes helped businesses reduce pollution while lowering costs. The document provides additional examples of facilities that achieved VOC and waste reductions through alternative brake cleaners and degreasing products recommended by MnTAP.
This document provides a summary of a business analysis final project focused on oil exploration and production. It began examining how oil refineries are adapting to increased US oil production but shifted to upstream activities. Equations are presented to model production and exploration decisions. A survey of refinery executives aimed to understand risk management strategies but was inconclusive due to small sample size and variability. The analysis recommends narrowing focus and using the equations to standardize operational decision making for oil exploration firms.
Reflective Essay About Leadership Essay On LeaCarrie Tran
The Spanish-American War was a short war lasting only four months in 1898. While it resulted in Spain losing control over Cuba, Puerto Rico, and the Philippines to the U.S., the main cause of casualties on the Spanish side was disease, with over 50,000 dying from yellow fever and malaria compared to only 9,413 from combat wounds. The war allowed the U.S. to gain foreign territories and access new markets for trade.
31 Classification Of Essay Examp. Online assignment writing service.Carrie Tran
This document provides instructions for submitting an assignment request to the website HelpWriting.net. It outlines a 5-step process:
1. Create an account with a password and email.
2. Complete a 10-minute order form providing instructions, sources, deadline, and attaching a sample if wanting the writer to mimic your style.
3. Review bids from writers and choose one based on qualifications, history, and feedback, then pay a deposit to start the assignment.
4. Review the completed paper and authorize final payment if pleased, or request free revisions.
5. You can request multiple revisions to ensure satisfaction, and the website guarantees original, high-quality content or a full refund
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PROJECT FAILURE - CASE STUDY BYInternational Journal of Computer Applications...Dineshi Gelanigama
This document summarizes three case studies of project failures: British Petroleum oil spill in the Gulf of Mexico, the merger of Chrysler and Fiat automobile companies, and the Millennium Dome construction project in the UK. For the BP case, it describes the 2010 Deepwater Horizon oil rig explosion that caused a massive oil spill and the challenges BP faced in stopping the oil flow. For Chrysler and Fiat, it discusses the 2009 merger of the two automobile companies and the organizational changes faced by the new CEO. For the Millennium Dome project, it notes it was controversial due to cost overruns and other issues. The document then provides recommendations for avoiding project failures.
A white paper/study authored by Katie Klaber of the Klaber Group (consultants). Klaber is the former president of the Marcellus Shale Coalition. The study details how small Pennsylvania companies can be successful in delivering new products and services to the oil and gas industry.
This document provides an overview and agenda for Curtiss-Wright's 2016 Investor Day. The agenda includes presentations on nuclear power and the nuclear aftermarket, an update on AP1000 reactor coolant pumps, and financial and strategic discussions. A question and answer session and tour of the AP1000 reactor coolant pump facility are also included. The document also contains boilerplate legal statements regarding forward-looking projections and the use of non-GAAP financial measures.
Robert E. Kent has over 40 years of experience in the oil and petrochemical industries. He has held leadership positions at several major companies, including CITGO Petroleum, Koch Industries, and Chevron. Currently, he is the President of REK Energy, LLC, which provides consulting services to refining and petrochemical companies worldwide. He has extensive experience managing refineries and leading capital projects valued over $150 million annually.
This document provides an agenda and presentation for a meeting with investors about Braskem. The summary is:
1) Braskem is a leading petrochemical company in the Americas and largest biopolymer producer worldwide, with operations in Brazil, USA, Germany and Mexico.
2) The presentation discusses Braskem's business model, strategy drivers, risks and opportunities, sustainable development efforts, and 2015 financial results.
3) It also provides an overview of Braskem's ownership structure, governance, raw material sourcing and diversification efforts, and competitive position relative to its peers.
Contractor Track: Need for Speed - Project Acceleration, Tech Trends, Logisti...Energy Construction Forum
This presentation discusses driving capital projects in oil and gas to best-in-class execution. Global investment in oil and gas projects over the next two decades is anticipated to be in the trillions. However, many projects historically face cost overruns and schedule delays. Both internal factors like planning and external factors like regulations can impact projects. Operators can improve performance through standardized modularization, new business models, collaboration, and innovation to reduce risks and potentially accelerate projects.
This presentation summarizes Braskem's 1Q14 earnings conference call. Key highlights included average cracker capacity utilization of 85% impacted by scheduled maintenance. EBITDA was positively impacted by international market spreads, real depreciation, and the divestment of water treatment assets. Net income was R$396 million. Leverage as measured by net debt to EBITDA was 2.71x. Braskem continues construction of its Mexico petrochemical complex and advancing the Ascent US ethane cracker project. Priorities include renewing its naphtha supply contract and advancing projects in Mexico and the US to diversify feedstocks.
Eco-Stim Energy Solutions (“ESES”, “Eco-Stim”, or “Company”) is an environmentally focused oilfield service and technology company providing proprietary field management technologies, well stimulation, and completion services to oil and gas producers drilling in the rapidly expanding international unconventional shale markets. Eco-Stim’s proprietary methodology and technology offers the potential to decrease the number of stages stimulated in shale plays through a unique process that predicts high-probability production zones while confirming those production zones using the latest generation down-hole diagnostic tools. In addition, Eco-Stim offers its clients completion techniques that can dramatically reduce horsepower requirements, emissions, surface footprint, and water usage. Eco-Stim seeks to deliver well completion services with better technology, better ecology, and significantly improved economics for unconventional oil and gas producers worldwide.
EcoStim provides well stimulation, coiled tubing, and reservoir management services using proprietary technologies. It has positioned 50,000 HHP of equipment in Argentina ahead of increasing shale drilling activity. EcoStim's growth opportunity is attractive due to supply constraints in Argentina and barriers to entry that limit competitors from rapidly expanding capacity. The company has a strong customer base of major oil and gas producers operating in Argentina and is bidding on several new contracts worth over $50 million as customers finalize 2017 budgets. Argentina's shale development is following a similar path as U.S. plays and is expected to rapidly increase horizontal drilling in coming years, providing significant growth potential for EcoStim.
This presentation provides an overview of an investment opportunity in EcoStim, an oilfield services company. It summarizes EcoStim's plans to refinance and restructure the company through a debt-to-equity conversion, raising $17 million in new capital. This will allow EcoStim to pursue growth in Argentina, where it currently operates, and expand into the US market in Oklahoma in 2017. The presentation outlines EcoStim's technology-driven service offerings and growth strategy, as well as the experience and track record of its management team in previously building and exiting energy companies.
This corporate presentation discusses the company's plans to capitalize on emerging market developments and increasing demand for unconventional oil and gas solutions in Argentina. It highlights the country's large shale resources, ongoing investments by major oil companies, and an undersupplied market that leaves room for the company to expand its operations across multiple market segments. The presentation also outlines the company's leadership team and track record of success building profitable energy service platforms.
The document summarizes the Deepwater Horizon oil spill that occurred when the Macondo well blew out on BP's leased Deepwater Horizon oil rig. It killed 11 people and spilled millions of barrels of oil into the Gulf of Mexico over 87 days. The spill was caused by several factors including well design issues, failed safety systems, organizational and risk management failures at BP, outdated government oversight and regulations, and other contributing external factors. The document analyzes BP and industry strategic risk factors and decision theories that may have led to the accident through an overemphasis on growth and profits without adequate risk mitigation. It concludes with lessons learned about the need for industry and regulatory changes to improve safety practices for offshore drilling.
This magazine article discusses several topics related to the oil and gas pipeline industry:
1) It introduces the pending PHMSA regulation called the Integrity Verification Process (IVP) which will require pipeline operators to validate material records and operating specifications, even though the exact requirements and timeline are still uncertain.
2) It describes how inline inspection tools like the Multiple Dataset Platform (MDS) can help operators comply with IVP by classifying pipe joints into "bins" based on manufacturing characteristics identified by the inspection data. Verifying a sample from each bin using material identification testing can then apply those results to all the joints in that bin.
3) This approach allows operators to establish complete material records for pipelines
ICIS webinar - Shale gas, the US project boom, and the impact on global petro...ICIS
On 27th May, ICIS hosted a free webinar on US shale gas, discussing how it has revitalized the US petrochemical sector, and triggered an unprecedented Project Boom.
Key topics include:
Macroeconomic outlook
US cost advantage vs Europe and Asia
US projects update – ethane crackers, PE, PDH, methanol
Engineering & construction (E&C) challenge
Capital spending (CAPEX) cycles
Global reaction and impact
http://www.icis.com/resources/
Patterson-UTI Energy is an oil and gas services company headquartered in Houston, Texas. It operates over 275 land-based drilling rigs in the US, Canada, and Alaska. It also provides pressure pumping and cementing services. In 2013, the company's revenue was $2.7 billion, similar to 2012 levels, but net income decreased 37% to $188 million. The company pays a quarterly dividend of $0.10 per share. The analyst recommends a "Buy" rating with a target price of $41.04 based on a discounted cash flow valuation through 2015 that assumes a 20.75% revenue growth rate and 11.16% WACC.
This document summarizes information about Highbank Resources Ltd.'s Swamp Point North aggregate project in British Columbia. It outlines the location and access to the project site, describes the measured, indicated, and inferred aggregate resource. It also discusses the mining plan, including initial production rates of 235,000 tonnes per year and permitting for unlimited production. Finally, it provides an overview of the management team and highlights major construction projects driving demand in the region.
This document discusses MnTAP's efforts to help Minnesota businesses reduce solvent usage for degreasing operations while maintaining effectiveness. MnTAP evaluated products at 23 facilities to identify alternatives that reduce VOC emissions and human health risks. Some successful substitutions included replacing lacquer thinner containing HAPs with acetone at one company, and replacing three solvents with a single water-based cleaner at another company. These changes helped businesses reduce pollution while lowering costs. The document provides additional examples of facilities that achieved VOC and waste reductions through alternative brake cleaners and degreasing products recommended by MnTAP.
This document provides a summary of a business analysis final project focused on oil exploration and production. It began examining how oil refineries are adapting to increased US oil production but shifted to upstream activities. Equations are presented to model production and exploration decisions. A survey of refinery executives aimed to understand risk management strategies but was inconclusive due to small sample size and variability. The analysis recommends narrowing focus and using the equations to standardize operational decision making for oil exploration firms.
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2016 Integrating Capital Projects And Turnarounds Whitepaper
1. 2016 Integrating Capital Projects
and Turnarounds Whitepaper
Market outlook and critical analysis for capital projects and shutdowns within US petrochemicals
and refining industries, with detailed insight in to proven best practices and common challenges
facing the market
Brought to you by Petrochemical Update
www.petchem-update.com/shutdown-turnaround/
2. The whitepaper covers:
∞ Top challenges turnaround and capital teams have faced when integrating projects, and how these issues have
been solved, including: scheduling, planning, cost allocation, and operations and maintenance issues.
∞ Communication and leadership strategies adopted on the most successful integrated projects.
∞ Technology and game changers to help teams with scheduling, design, budgets and an index to measure which
projects and turnarounds belong in integration, and which should stand alone.’
Featuring insights from:
CHRIS VAUGHN
Maintenance Team Leader
DuPont
NIKKI BISHOP
Director, Global
Turnaround Program
Emerson Process Management
BOBBY SINGH
President
Project Assurance
RICH VERWEGEN
Turnaround Team Leader
NOVA Chemicals
BOBBY VICHICH
Vice President Turnaround
Consulting Services
AP-Networks
BRENT LANGLEY
Senior Consultant
Oracle Corporation
www.petchem-update.com/shutdown-turnaround/
Brought to you by Petrochemical Update
2016 Integrating Capital Projects
and Turnarounds Whitepaper
3. Brought to you by Petrochemical Update
Brought to you by Petrochemical Update
2016 Integrating Capital Projects
and Turnarounds Whitepaper
Gulf Coast Shutdowns
& Turnarounds
June 7-8, New Orleans, USA 2016
www.petchem-update.com/
shutdown-turnaround/
Introduction
Even though companies often plan maintenance projects months or even years in
advance, some 68% of US refiners and chemical plants still fail to deliver their
planned shutdowns, turnarounds and outages on time, according to Brent Langley,
senior consultant at Oracle Corporation. Since turnarounds are by definition a lost
profit opportunity, any delay in executing them adds to production losses, and
undermines shareholder value and regulatory compliance.
Capital project work as a percent of turnaround work has grown from just 2% in
2006 to nearly 25% in 2014, according to Bobby Vichich, vice president of
turnaround and project management consultancy AP-Networks. Lack of effective
project-turnaround integration between capital project teams and turnaround teams
is often cited as the top reason for turnaround failures.
With the next 3-5 years expected to see a high number of shutdowns, turnarounds
and outages at petrochemical plants & refineries in the US, it is more important than
ever for producers to build effective plans and processes to deliver maintenance
projects on time, on budget and safely.
Moreover, experience and data show that including more than 30% of capital
project work into a turnaround execution window severely heightens the
complexity of the event. The interface between the capital project and turnaround
teams has historically been one of the most difficult to manage and is even more
critical for the upcoming large-scale projects as more complex projects tend to
experience more and bigger schedule and budget overruns.
This white paper features insight from seasoned turnaround managers,
maintenance teams, capital managers and industry consultants in North America to
highlight the key strategies and latest lessons learned at petrochemical and refining
facilities that have significantly improved their turnaround programs, with a focus
on:
• Effective scheduling, planning, cost allocation, and operations & maintenance
(O&M) when integrating capital projects with shutdowns/turnarounds;
• Communication and leadership strategies from leading integrated projects and
turnarounds;
• Technology and game changers to help teams with scheduling, design and
budgets.
Outlook for Capital Projects and Shutdowns
Despite weaker oil prices, analysts expect US petroleum refinery capital spending to
rise over the next three to five years as refiners race to prepare facilities to meet new
regulations from the US Environmental Protection Agency (EPA), take advantage of
cheap domestic feedstock, and as North America becomes an exporter of
petroleum products.
Refiners in the US and Canada are projected to spend about $6.7 billion on new
capital projects in 2016, up from $5 billion in 2015, according to Chris Paschall, vice
president of global research for the petroleum refining industry at consulting firm
Industrial Info Resources.
Out of that, refiners in the US and Canada have scheduled about $1.3 billion of
maintenance spending in 2016, and the number of scheduled refinery turnaround
projects is expected to increase in 2016-2017 after it fell sharply in 2015 as refiners
delayed projects to process the flood of inexpensive crude oil, Paschall told
Petrochemical Update.
4. Brought to you by Petrochemical Update
Brought to you by Petrochemical Update
2016 Integrating Capital Projects
and Turnarounds Whitepaper
Gulf Coast Shutdowns
& Turnarounds
June 7-8, New Orleans, USA 2016
www.petchem-update.com/
shutdown-turnaround/
Phillips 66, for example, plans $1.2 billion of capital expenditures in refining in 2016,
with 70% of that to be invested in reliability, safety and environmental projects,
including compliance with the new Tier 3 gasoline specifications.
Meanwhile, HollyFrontier is targeting a capital investment program of $325 million
during 2015-2018 on projects to expand and modernize operations at its five US
refineries.
Spending on US petrochemical projects, especially new ethane crackers and
polyethylene units, is also expected to grow in 2016-2020, based on announced
construction projects, expansions and debottlenecks (See Table 1, 2 and 3).
NEW CRACKERS
Sasol
ExxonMobil
Chevron Phillips
Dow Chemical
Formosa
Formosa
Total
Oxichem/Mexichem
Axiall/Lotte
Shell
Braskem
Shin-Etsu
Williams
PTT/Marubeni
COMPANY
1500000
1500000
1500000
1500000
1200000
1590000
900000
544000
1000000
1500000
1100000
500000
1500000
1000000
CAPACITY
(Tons)
Louisiana
Texas
Texas
Texas
Texas
Louisiana
Texas
Texas
Louisiana
Pennsylvania
West Virginia
Louisiana
Louisiana
Ohio
LOCATION
N/A
2017
2017
2017
2017
N/A
N/A
2018
2018
2020
N/A
N/A
N/A
2024
ANNOUNCED
START-UP
2018
2017
2017
2017
2017
2022
2023
2018
2023
2021
2019
2022
2025
2024
INDUSTRY PROJECTED
START-UP
Table 1: New US ethane crackers
Source: Petrochemical Update’s US Ethane, EthyIene & PoIyethyIene: Exports & Markets Report (December 2015).
5. Brought to you by Petrochemical Update
Brought to you by Petrochemical Update
2016 Integrating Capital Projects
and Turnarounds Whitepaper
Gulf Coast Shutdowns
& Turnarounds
June 7-8, New Orleans, USA 2016
www.petchem-update.com/
shutdown-turnaround/
Moreover, a rise in margins for polypropylene has resulted in recent
announcements for potential increased production of the plastic in the US, starting
as early as 2016.
Formosa and Vinmar are studying the feasibility of building a polypropylene plant in
Louisiana. Formosa Plastics said it will build a new polypropylene plant at its
complex in Point Comfort, Texas.
Braskem America CEO Fernando Musa also said the firm was studying a new plant,
as well as debottlenecking options at its five existing US polypropylene sites.
EXPANSIONS
INEOS
Williams
Westlake
LyondellBasell
Chevron Phillips
Westlake
LyondellBasell
LyondellBasell
Huntsman
BASF
Indorama
COMPANY
115000
272000
82000
363000
100000
100000
125000
375000
25000
150000
370000
CAPACITY
(Tons)
Texas
Louisiana
Kentucky
Texas
Texas
Louisiana
Texas
Texas
Texas
Texas
Louisiana
LOCATION
2014
2014
2014
2014
2014
2014
2015
2015
N/A
2014
2017
START-UP
Started Up
Started Up
Started Up
Started Up
Not Sure
On-Schedule
On-Schedule
Upgrading Cracker
acquisition, renovation
& restart
STATUS
Table 2: Announced US Ethane Cracker Expansions
Source: Petrochemical Update’s US Ethane, EthyIene & PoIyethyIene: Exports & Markets Report (December 2015).
Featuring insight from:
US Ethane, EthyIene & PoIyethyIene:
Exports & Markets Report
www.petchem-update.com/
us-ethane-and-ethylene-exports-markets-report/
6. Brought to you by Petrochemical Update
Brought to you by Petrochemical Update
2016 Integrating Capital Projects
and Turnarounds Whitepaper
Gulf Coast Shutdowns
& Turnarounds
June 7-8, New Orleans, USA 2016
www.petchem-update.com/
shutdown-turnaround/
Badlands NGL
Braskem
Chevron Phillips
Dow Chemical
Dow Chemical
ExxonMobil
Formosa
Formosa
LyondellBasell
Nova Chemicals
Odebrecht
PTT/Marubeni
Sasol
Sasol
Sasol/INEOS
Shell
COMPANY
1,500,000
N/A (1,000,000)
1,000,000
400,000
650,000
1,300,000
400,000
525,000 + 600,000
450,000
430,000
700,000
450,000
420,000
470,000
1,500,000
CAPACITY
(Tons)
Unspecified
HDPE/LDPE
HDPE, LLDPE
LDPE
LLDPE
LLDPE
LDPE
LLDPE, HDPE
HDPE
LLDPE
Unspecified
HDPE
LLDPE
LDPE
HDPE
HDPE/LLDPE
GRADES
N. Dakota
West Virginia
Texas
Texas
Texas
Texas
Texas
Texas, Louisiana
US
Alberta
West Virginia
Ohio
Louisiana
Louisiana
Texas
Pennsylvania
LOCATION
Unspecified
N/A (2022)
2017
2017
2017
Late 2016 (2018)
2017 (2018)
N/A (2022)
Mid-2017 (2019)
3Q 2016 (early 2017)
Unspecified
2020 (2024)
2016 (2018)
N/A (2018)
2016 (early 2017)
2018 (2022)
ANNOUNCED START-UP
Table 3: US Polyethylene Projects
Source: Petrochemical Update’s US Ethane, EthyIene & PoIyethyIene: Exports & Markets Report (December 2015).
Featuring insight from:
US Ethane, EthyIene & PoIyethyIene:
Exports & Markets Report
www.petchem-update.com/
us-ethane-and-ethylene-exports-markets-report/
7. Brought to you by Petrochemical Update
www.petchem-update.com/shutdown-turnaround/
Brought to you by Petrochemical Update
2016 Integrating Capital Projects
and Turnarounds Whitepaper
Gulf Coast Shutdowns
& Turnarounds
June 7-8, New Orleans, USA 2016
www.petchem-update.com/
shutdown-turnaround/
Common Problems
Bobby Singh, president of shutdown & turnaround consulting firm Project
Assurance and author of the book “World-Class Turnaround Management –
Business Driven and Reliability Focused” has conducted a benchmark survey of
turnaround teams for refineries and chemical plants. The annual survey, which is
distributed to about 25-30 maintenance, project, turnaround, cost control and
operations managers 4-5 times a year, shows that many turnarounds lack focus,
planning and leadership:
• More than 90% of turnarounds failed to meet the company’s business and
turnaround goals.
• Eight out of 10 turnarounds experienced cost overruns of up to 40%;
• Half of the turnarounds waivered from the schedule;
• Nine out of 10 turnarounds had scope growth of up to 50% mid project;
• Most turnarounds were impacted by shortages of skilled staff;
• Three out of four times the schedule was abandoned the first week of the
turnaround.
Singh said many companies are struggling to get their departments to develop a
collaborative strategy, but that they can significantly improve their turnaround
performance and capital project integration via strategic planning, systematic
processes and strong leadership.
“Leadership must give clear expectations and stand up for the priorities of both
teams in order to mitigate the issues,” Singh said. “They must focus on creating a
knowledge-based organization where the team understands the purpose of the
turnaround and is motivated to achieve results.”
Singh’s top rules for facilitating turnarounds and shutdowns include:
1. Establishing a company-specific turnaround management process and
procedures based on best industry practices;
2. Implementing a strategic turnaround planning system to create synergistic focus
on turnaround goals, critical issues and success initiatives;
3. Focusing on safety, business success, mechanical integrity and cost-effective
execution;
4. Assigning high-impact turnaround teams through customized training and
getting expert support;
5. Developing contracting strategy and plan to select the most qualified
contractors and management teams;
6. Conducting quarterly turnaround planning preparedness reviews to ensure
focused planning and efficient execution;
7. Achieving effective turnaround management controls through value-added
planning, dynamic cost controls and progress reporting;
8. Implementing productivity improvement plan to achieve highest field
efficiencies and logistical coordination;
9. Conducting post-turnaround evaluation to develop initiatives for eliminating
weak areas and improving future results;
10. Ensuring continuous learning through customized turnaround management
training and benchmarking programs.
8. Brought to you by Petrochemical Update
www.petchem-update.com/shutdown-turnaround/
Brought to you by Petrochemical Update
2016 Integrating Capital Projects
and Turnarounds Whitepaper
Gulf Coast Shutdowns
& Turnarounds
June 7-8, New Orleans, USA 2016
www.petchem-update.com/
shutdown-turnaround/
To Integrate or Not?
Improved refiner margins mean more capital project activity is on the books, and
more capital projects are executed during the maintenance turnaround window
than ever before.
Refiners are willing to spend the money to improve, but they don’t want to lose
money from lost production, according to Nikki Bishop, director of the Global
Turnaround Program at Emerson Process Management.
Integrating the capital project with the turnaround could minimize downtime, saving
time and money.
Since an outage at a refinery or a petrochemical plant typically runs for 45 days in
execution, 60 days spec to spec, taking two in one year does not make economic
sense, according to Rich Verwegen, turnaround team leader maintenance services
at NOVA Chemicals.
Every turnaround at NOVA has had some level of capital project in place. The scope
of the project work is almost equal to the maintenance expense, Verwegen said,
and having a process in place ensures consistency and alignment.
Integrating a capital project with a turnaround not only ensures the facility is shut
down only once, but also brings communication benefits, according to Bobby
Singh of Project Assurance.
“During execution, both parties may need to work on the same equipment, use
same procedures, use same skilled workforce and avoid any conflicts that may
result in delays and restarting the refinery and costs overruns,” he said. “The only
way to avoid this is to address these up front, rather than confront during
execution.”
Yet, integrating a capital project with a turnaround is less desirable in other cases
due to inherent differences in the two types of events. A master plan for leadership
helps teams to develop the best timing of events.
NOVA, for example, is using the Primavera 6 solution by Oracle – a project
management tool to handle large-scale, highly sophisticated and multifaceted
projects by breaking them down into thousands of separate activities – to address
planning and to schedule all events to a level 5 detail.
A plant manager, for example, may have shutdowns and turnarounds in several units
planned for the year, in addition to capital projects. A solution like Primavera 6
allows the leadership to take all the scopes of work and data in one place to
visualize the best, most cost-effective option.
“The solution will look at inventory reserves, timing of which units are out globally
and look at various scenarios to determine if the shutdown should be delayed or
the timing changed, or done alongside a capital project,” Langley said.
The solution is used by everyone on the team with various security layers so that
management can look at both the project team plans and maintenance team plans
company-wide to determine the best strategy.
Meanwhile, AP-Networks uses an Integration Index to quantitatively measure the
level of integration on a scale of 0 to 100%. Numerical models correlate with
turnaround predictability and schedule competitiveness to measure the integration
possibility as strong, borderline or weak. The index is designed to pinpoint gaps
between project and turnaround teams and to serve as an indicator of turnaround
performance outcomes, Vichich said.
The company has a database of more than 1,300 turnaround observations from
which it develops mathematical models and regression analyses that correlate
9. Brought to you by Petrochemical Update
Brought to you by Petrochemical Update
2016 Integrating Capital Projects
and Turnarounds Whitepaper
Gulf Coast Shutdowns
& Turnarounds
June 7-8, New Orleans, USA 2016
www.petchem-update.com/
shutdown-turnaround/
planning and preparation practices to outcomes. This allows AP-Networks to see –
with supporting industry-wide data – how project/turnaround integration relates to
outcomes, he added.
Case study: Implementing Integration Processes and
Procedures at NOVA Chemicals
When planning a turnaround/shutdown, companies have primarily focused on
scheduling maintenance to minimize the impact on revenue. But there are other
important factors to consider to ensure that the turnaround is finished on time and
on budget.
Organizations need to fully understand the scope of the event, including the daily
costs, the procurement plan, purchase lead times, the resources needed and
contractor requirements. They must be able to manage changes throughout the
event.
The lack of an approved scope can increase the final cost and completion time by
more than 10%, according to Oracle’s Brent Langley.
“The biggest barrier is a clean scope. We have to freeze the scope to start planning.
There is always the potential for minor changes. Even minor changes have an effect
on the turnaround,” NOVA’s Verwegen said.
As a first step, Verwegen requests milestones and a milestone document with
deadlines is created for production to determine dollar value of production and
man power. Milestone deadlines at NOVA start as soon as a month after feasibility
discussions begin, and detailed planning starts a full year before the project begins.
In one case, NOVA began planning a turnaround/capital project integration 2.5
years ahead of the scheduled start date.
Unlike many other facilities, the capital project work is planned by the turnaround
team to ensure consistency and alignment of schedules. The capital project leaders
then assess and join review meetings. NOVA implemented this process a few years
ago, after a major expansion project and a turnaround that were planned separately
did not go well.
At NOVA, the capital team will schedule engineering and procurement with the help
of an engineering and procurement firm, and the turnaround team will schedule
construction manpower for the shutdown with the help of a construction company.
Indirect costs such as equipment rental and contractor work hours are distributed
between the project and turnaround teams using a percentage formula through the
SAP software solution.
“Everything in the project has to line up with the turnaround – all deliveries, all
components. [The project team] run the process, but [the turnaround team] track it.
If there is any project work that can be done outside the turnaround and not impact
production, we’ll work it in. We attempt to do project work and turnaround work
together, starting at execution,” Verwegen said.
The teams align early on at NOVA using a plans review process. The project group
has to come up with the scope. The turnaround team requests details of what can
be done before the turnaround begins, as well as manpower hours, critical work
processes, and construction plans. Together, the team looks at constructability,
critical paths and man power needs.
10. Brought to you by Petrochemical Update
Brought to you by Petrochemical Update
2016 Integrating Capital Projects
and Turnarounds Whitepaper
Gulf Coast Shutdowns
& Turnarounds
June 7-8, New Orleans, USA 2016
www.petchem-update.com/
shutdown-turnaround/
According to Vichich, by the end of the basic design, the project team should have
clearly defined objectives, engineering philosophy, construction philosophy,
contract and procurement strategies, project control (schedule and cost) strategy,
execution organization, as well as document deliverable formats for contractors and
for handover to operations.
“Any changes to these after basic design and budget authorization will cost the
project money,” he said.
At NOVA, change happens as soon as the day after a team’s first meeting, and
teams must have a communication process in place early on to manage change
and the scope of how it impacts the turnaround and the project, Verwegen said.
“We have a rigorous process in place to make any change to the scope of the
project that usually requires a higher level of leadership to make these changes,” he
added.
Case Study: Leadership Strategies at DuPont
Scheduling and resource planning are the primary focus areas when managing a
shutdown/turnaround. The organization must anticipate production loss during the
asset’s downtime. Organizations that have adopted planning and scheduling
optimization solutions have seen a 3% improvement in shutdown project
completion times from shutdown to startup, according to Langley.
To truly improve the process, teams must take a focused approach. At DuPont, an
efficient turnaround process that follows the schedule will ensure the plant re-starts
result in on time, and sometimes earlier than planned.
“Turnarounds can really be the biggest loser for a company when the team loses
focus and does not take a focused approach,” said Chris Vaughn, maintenance and
turnaround team leader at DuPont. “We see that with the proper planning and
process in place, we have seen 20-day planned outages come back online on days
17 or 18. Not losing money, but saving money and production.”
It took DuPont two years to improve the process and establish best practices. The
first step was to change the company culture and get leadership support.
“If you want a good system in place, you must engage people from each team to
build the process and establish integrity, and have leadership on your side cheering
on the effort,” Vaughn said. “The schedule has to be built early with insight from all
teams.”
In return for leadership support, the turnaround team promised communication
improvement.
“Turnaround time is emotional. It feels like the movie ‘Groundhog Day’. Same thing,
different day, over and over,” Vaughn said. “People don’t see what’s going on at the
plant and they get anxious, so you should provide timely updates and explain what
is happening to ease the stress among the teams.”
When the first project is over, it is important to reflect on the event and evaluate
how it can be improved. According to Vaughn, implementing a good system at
DuPont as allowed the company to plan its annual turnarounds in 8-10 months
rather than a year (the industry-average).
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Implementing an Effective Communication Strategy
Maintenance and project teams often have extremely different objectives that can
lead to costly process discrepancies. Teams must understand both their own
priorities and those of the other teams.
The project team focuses on how long the turnaround will take and is less
concerned with the complexity of the turnaround. Maintenance, on the other hand,
is focused on safety and detail. Leadership must lay out clear expectations to avoid
conflict between the two teams.
Vichich once interviewed a maintenance team after a turnaround and was told it
had been their best outage ever, safe and perfectly executed. In the same day, he
interviewed the capital projects team, which said it had been the worst event ever.
An outage that was planned for 54 days ended up taking well over 100 days, hurting
cost and production.
The project team is usually focused on minimizing costs, while the turnaround team
is focused on minimizing the scope and the execution window, Vichich said.
“If the capital team says they want the project done in 30 days, and you know it will
take 45 to do safely, make sure to be honest and realistic with the business. Giving
in to their demands when you know the request is not possible will not solve any
problems. Honest communication with the teams is vital,” Vaughn said.
By communicating needs up front, the schedule can be made more efficient,
according to Bishop.
Managing Skilled Labor Resources and Turnaround
Teams
Turnarounds and capital projects require skilled resources that are often hired on a
contract basis. These skilled workers move around from turnaround to turnaround.
If a company does not have the right resources secured for an event, the
turnaround cannot happen.
Because of a general shortage of skilled labor in North America, NOVA meets
regularly with a regional construction association to give estimates on manpower
hours needed for upcoming projects. The company most often needs carpenters,
boilermakers, insulators, electricians and welders, depending on the project.
With turnarounds happening every 3-5 years, there is a good chance that an entirely
new team is at the refinery by the time the next turnaround comes around, so there
is often a learning curve with the new team, including with full-time managers.
With baby boomers reaching retirement age and leaving the industry, and with
Millennials lacking the experience to take over their roles, companies are facing a
critical engineering and management shortage, in addition to a skilled labor
shortage.
Communication between teams is important to handle this learning curve. Some
plants will have a weekly cadence call, for example, Bishop said.
Project management tools like Oracle’s Primavera solution also help address this
problem, according to managers interviewed for this industry paper, as they have a
centralized platform of project intelligence that increases organizational
competence, provides a common framework for project management, and helps
new hires get up to speed quickly.
12. Brought to you by Petrochemical Update
Brought to you by Petrochemical Update
2016 Integrating Capital Projects
and Turnarounds Whitepaper
Gulf Coast Shutdowns
& Turnarounds
June 7-8, New Orleans, USA 2016
www.petchem-update.com/
shutdown-turnaround/
“By providing the visibility needed to allocate the right resources to the right project,
Primavera helps organizations make the most of a shrinking labor pool,” Oracle’s
Langley said.
Conclusion
AP-Networks’ study of medium and high-complexity turnarounds executed since
mid-2012 shows that turnarounds most often fail due to increased event
complexity, inefficient organizational capability, lack of engaged leadership,
ineffective scope development and scope freeze, as well as inadequate capital
project integration.
The latter, in particular, most often stems from difficulties in successfully integrating
capital and maintenance work, and plans, and has resulted in many late projects,
late engineering work packages, and late materials.
Companies that plan to integrate capital projects with turnarounds must first
acknowledge that the two differ in some respects, especially timing, duration and
key drivers.
Yet, experience at some of North America’s leading petrochemical and refinery
owners shows that capital projects and turnarounds also overlap in a number of
ways, and can be successfully aligned during planning and execution, pre-planning,
pre-turnaround and pre-construction via integrated schedules and scopes, risks and
data-based reviews, performance benchmarking, more advanced planning, and
more coordinated communication between and across project interfaces.