124 YINSON HOLDINGS BERHAD | INTEGRATED ANNUAL REPORT 2023 EMBRACING GOOD CORPORATE GOVERNANCE Yinson Production’s digital transformation journey YP continued its digitalisation journey, aligning business units’ strategic goals to invest in asset lifecycle management through a dedicated digitalisation strategy. The following highlights some of the initiatives executed in 2022 to enable digital technology to empower our human capital: • On 7 December 2022, YP entered into an MoU with AVEVA, a global leader in industrial software to drive digital transformation and sustainability. The agreement was initiated to strengthen existing relationships with companies and support YP in the development of fully autonomous and sustainable FPSO solutions. • On 10 January 2023, we started our first pilot project with AVEVA to create sustainable and autonomous FPSO solutions. Known as Project POLARIS, the project involves a scalable enterprise system integration enabling asset strategy optimisation, predictive maintenance, automated Life Cycle Costing (LCC) and a Unified Operations Centre (UOC) for visualisation and human interaction for data-driven decision-making. This will improve our existing engineering tools and enhance data-driven decision-making across the asset lifecycle. • During the year under review, other pilot projects to enable technologies such as additive manufacturing to bolster a sustainable and efficient supply chain, and the use of robotics such as drones and ROVs were further enhanced. • Currently, we are looking into developing integrated cloud-based platforms for digital warehousing, remote inspections and analytics. These are part of POLARIS’ solutions to reduce human risk, carbon footprint and costs.
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