Honeywell Technology Will Help Modernize PetroChina, Optimize Production at Refineries
BEIJING, Jan. 10, 2006 – Asia-Pacific’s largest oil company, PetroChina Co., has selected Honeywell (NYSE: HON) to implement a planning system project at 11 of its refining and petrochemical facilities throughout northern China. Honeywell will install an Advanced Planning System (APS) to help PetroChina optimize crude oil selection, production distribution and plant production.
“The Honeywell APS system will have a widespread positive impact on our entire operation,” said Gu Xuejing, deputy general manager, Department of Technology and Information, PetroChina Co. “We chose Honeywell for this project based on the company’s many successes in the region. We know Honeywell technology will play a vital role in our effort to modernize PetroChina in becoming a world-class operation.”
The APS program is part of PetroChina’s IT Master Program, which aims to modernize PetroChina’s operations of both up-stream oil production and down-stream refining and petrochemical production.
Under terms of the agreement, Honeywell will provide PetroChina with its Refinery and Petrochemical Modeling System (RPMS™ ), a tool that prepares an optimal production plan for a processing plant or unit based on current inventories, raw material supply and distribution of finished products. The RPMS modeling system includes advanced modeling capabilities that provide mixed integer programming, innovative property tracking techniques for multi-period models, fast recursions and streamlined recursion property calculation techniques. With RPMS, planners can integrate all of the constraints that affect their plan, using data from a variety of sources, to quickly and accurately develop the optimal solution.
“The increasing global demand for oil and petrochemical products presents PetroChina with a unique opportunity to grow its business and improve profitability,” said Dr. Tao Xingwen, business manager for Advanced Solutions, Honeywell Process Solutions China. “Our extensive history in working with PetroChina, combined with Honeywell technology and commitment to best practices will help PetroChina achieve its business objectives and realize great potential.”
Honeywell’s presence is China dates back to 1935. The company has key facilities in major Chinese cities such as Shanghai, KaiPing, and ShenZhen, and continues to expand its local manufacturing and engineering presence.
PetroChina is one of the largest companies in the People’s Republic of China. It is engaged in a broad range of activities related to petroleum and natural gas, including: the exploration, development and production of crude oil and natural gas; the refining, transportation and marketing of crude oil and petroleum products; the production and sale of chemical products; and the transmission, marketing and sale of natural gas.
Honeywell International is a $26 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell’s shares are traded on the New York, London, Chicago and Pacific Stock Exchanges. It is one of the 30 stocks that make up the Dow Jones Industrial Average and is also a component of the Standard & Poor's 500 Index. For additional information, please visit www.honeywell.com. Honeywell Process Solutions is part of Honeywell’s Automation and Control Solutions group, a global leader in providing product and service solutions that improve efficiency and profitability, support regulatory compliance, and maintain safe, comfortable environments in homes, buildings and industry. For more information about Process Solutions, access www.honeywell.com/ps.
This release contains forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934, including statements about future business operations, financial performance and market conditions. Such forward-looking statements involve risks and uncertainties inherent in business forecasts as further described in our filings under the Securities Exchange Act.
RPMS™ is a trademark of Honeywell International Inc.
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