TOKYO: Chiyoda Corporation (Chiyoda), Cognite, and MitsubishiCorporation (MC) today announced the signing of a Memorandum of Understanding and a proof-of-concept (POC) agreement(“the Agreement”). The former covers the joint provision and collaboration on the Mirai Fusion (MF) digital solutions platform, which is designed for industrial facilities and plants, while the latter covers PoC work for an oil refinery in Japan. We plan to expand on these solutions and ultimately make them available to a variety of industrial facilities in Japan and overseas, including other oil refineries and LNG and petrochemicals plants.
Efficiency improvements and the succession of management and technologies are important challenges in plant operations. Some of the more pressing issues include cutting maintenance costs associated with aging and deteriorating equipment, accurately gauging the operational and management expertise of skilled workers, and the integrated use of data that up to now have been disconnected due to the vertical structuring of existing systems. The MF platform is built on Cognito Data Fusion (CDF software developed by Cognito that enables the integration and contextualization of various types of fragmented industrial data. Its application in oil and gas plant operations marks a world first, as this type of software has never before been used for such a purpose.
One of the goals of the agreement is to support digital transformation initiatives that aim to improve both the maintenance efficiency and productivity of industrial plants. Cognite’s software will be used to augment Chiyoda’s plant engineering expertise to provide solutions tailored to each customer’s needs. The partnership will also use proven, real-world applications. Some, developed with Chiyoda’sproprietary, AI-based digital technologies, help users visualize their operational statuses, predict equipment or process failures, and handle other procedures common in the industry, while others will be cutting-edge, third-party apps1sourced from MC’s global network.
The technology used in the MF platform is already helping oil and gas operators such as Saudi Aramco and Aker BP maximize production and improve maintenance efficiency. Aker BP’sdigitalization program is on track to reduce the operator’s annual operating expenses by 15-18 percent by 2022.
Following the rollout in Japan, Chiyoda, Cognite, and MC plan to expand on these solutions and make them available to a variety of industrial facilities in Japan and overseas. The alliance between Chiyoda, Cognite, and MC aims to help customers grow more competitive and enhance their corporate value. Through effective use of data-driven apps designed to boost efficiency and enhance facility management, industrial companies will be able to optimize plant operations and oil and gas resources more efficiently, which can contribute to global decarbonization efforts.
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