29 LEADERSHIP MESSAGES | GROUP CEO REVIEW CASE STUDY PROJECT POLARIS Project Polaris is Yinson Production’s flagship digitalisation initiative, epitomising our strategy of enabling digital technology, encouraging empowerment and building the most resource and cost-efficient assets in the industry. Project Polaris is an integrated asset performance management solution, which brings together applications on an existing ecosystem through a customised architecture that allows interaction and flow of data from one application to another, providing a robust and reliable analytical decision-making platform. The project has been fully rolled out on FPSO Helang, with a view of eventual adaptation across our current and future fleet. DECEMBER 2022 Signed MoU with Aveva to develop solutions that contribute to autonomous and sustainable FPSO operations: Project Polaris. Designed customised architecture. JANUARY 2023 Project Polaris launched. THROUGHOUT 2023 • Solution building. • Acceptance testing. • Implementation. JANUARY 2024 • Project Polaris went live on FPSO Helang. • Project moved into support phase. JOURNEY OF DIGITALISATION With Project Polaris now live, we are currently making functional improvements with each application, with active dialogues taking place in order to plan our next steps. Upcoming improvements for the coming year include the following: • Further optimise and improve Predictive Analytics and Condition-Based Monitoring models to set the foundation of future installations. • Roll out Lifecycle Costing application beyond FPSO Helang to other Yinson Production assets and support functions. • Support the adoption of Project Polaris technologies throughout Yinson Production through training, engagement and user enablement initiatives. • Conduct use cases through predictive analytics and maintenance strategy optimisation to realise cost savings. Improvement in CAPEX equipment strategies. Financial justification for maintenance strategies for our assets and systems. Improvement in OPEX budgeting. Foundation for reliability and maintenance for overall asset lifecycle management approach. KEY COMPONENTS OF PROJECT POLARIS 1 ENTERPRISE VISUALISATION Unified Operations Centre • Powerful visualisation capabilities for contextualised data from different sources. • Deliver situational awareness. • Visualised automated lifecycle costing. • Showcasing synergy of information. OUTCOMES 2 ASSET PERFORMANCE STRATEGY Predictive Analytics • Equipment analysis and early warnings through machine learning algorithm. • Forecasting potential failures. • Informed decision-making guided by prescriptive action. Condition-Based Monitoring • Identification of potential areas of risk. • Detect and manage potential failures. Asset Strategy Optimisation • Define strategy through risk-based analysis based on business and operational objectives. • Data-driven and proven analysis. • Develop, realise and optimise strategies, and deploy overall operational maintenance management (predictive, prescriptive and preventive).
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