Cosmo Oil Achieves 250% ROI and Operational Excellence Through Digital Transformation and APM Success

Customer Story Bar

Customer Information

Introduction

Industry

Oil & Gas

Products

SmartSignal Predictive Analytics, Asset Performance Management

Cosmo Oil, Japan’s third-largest oil petroleum refining company, shares its AI and digital transformation story. To achieve successful implementation and continued use, a comprehensive DX program empowers employees to use Asset Performance Management (APM) software, digital twin technology, and Artificial Intelligence (AI) and Business Intelligence (BI) tools. The company fosters a test-and-learn culture with annual employee surveys, targeted skill-up programs, and data forums for collaboration.

The Solution

The speakers discuss the critical, ongoing work of data governance and how they use a unified platform to organize, manage, and clean data, as well as transfer on-premises data to the cloud. These centralized data governance processes from the foundation for AI readiness and implementation of new tools by Cosmo Oil refinery employees. They also discuss Cosmo Oil’s successful adoption of Meridium APM to reduce unplanned shutdowns and improve operational availability at its refineries.

The Results

In the three years since its APM implementation, Cosmo Oil achieved a 250% ROI, and the team also projects this will grow to 257% over the next three years. The use of APM also supports the company’s goal of an independent and self-sustaining refinery, enabled by data-driven and AI decision-making.

The five elements that enabled operational transformation were identified as:
  • Understanding the true needs of users to develop proposals based on realistic use cases
  • Management sharing the vision and demonstrating a strong commitment to the project’s success
  • The project management office collaborating with management and enabling the project to move forward
  • A specialized IT team supporting the project
  • Collaboration with GE Vernova as a transformation partner, providing solutions based on user perspectives
GE Vernova
23:45
Presenters:

Noriko Rzonca
Chief Digital Officer, Cosmo Energy Holdings

Kiyohide Yoshii
Maintenance Strategy Manager, Cosmo Oil