Yokogawa accepts ‘Best Asset Monitoring Technology’ and ‘Best Digital Twin Technology’ Awards at the 2020 HP Awards Ceremony

Houston, Texas – October 2, 2020

A global audience of midstream and downstream oil and gas industry professionals gathered yesterday, Thursday October 1st, to find out, and celebrate, the winners of the 2020 HP Awards presented by Hydrocarbon Processing, the downstream sector's leading technical publication. The awards seek to recognize and honor the hydrocarbon processing industry’s top innovations and innovators. Yokogawa is pleased to announce it is the recipient of two technology awards, cementing itself as an industry leader in quality and innovation.

Honorees received awards in 15 categories—13 encompassing the latest technological advances in the hydrocarbon processing industry and two people awards—from the live-streamed, virtual event. These innovations are enabling refinery, petrochemical and gas processing/LNG operators to optimize their operations and increase safety, efficiency, profitability and sustainability.

In this year’s ‘Best Asset Monitoring Technology’ category, Yokogawa won for its IIoT Plant Asset Management (PAM) technology. Using Yokogawa’s Sushi Sensor with long-range wireless networking, PAM is a unique vibration monitoring solution that utilizes artificial intelligence and machine learning analytics for very early anomaly detection in rotating equipment. This technology helps prevent costly downtime of crucial equipment and plant personnel. 

In this year’s ‘Best Digital Twin Technology’ category, Yokogawa won for its Petro-SIM® technology. The digital twin for performance monitoring across the fullstream enables faster identification and resolution of production issues, leading to minimization of lost profit and enhanced operability. The visibility offered also provides enhanced data for troubleshooting. This technology has now made it practical to use simulation models for continuous performance monitoring, adjustment and optimization.  

“We are delighted to accept these awards and be recognized as an industry leader in the fields of asset performance management and production optimization” exclaims Duncan Micklem, Vice President at Yokogawa Corporation of America. “It is a testament to the hard work that our teams have put in and our innovate-forward philosophy which anticipates and solves for tomorrow’s challenges.”

Further information on Yokogawa’s IIoT Plant Asset Management (PAM) technology please visit:

https://www.yokogawa.com/us/solutions/solutions/asset-management/plant-asset-management/

Further information on Petro-SIM® Digital Twin for Unit Performance Monitoring solution please visit:

https://www.kbc.global/digital-twin/

Related Products & Solutions

Plant Asset Management (PAM)

With the Plant Asset Management (PAM) solution, an environment that enables cross-sectional analytics of the process data and asset data can be established. Yokogawa's professional consultants can provide suitable suggestions for improvement from both business and production perspectives.

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