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Honeywell To Upgrade First Ice-Class Offshore Stationary Platform On Sakhalin Shelf Safety And Production Process Upgrades For The Molikpaq Platform

Stock quotes in this article: HON

MOSCOW, July 31, 2014 /PRNewswire/ -- Honeywell (NYSE: HON) Process Solutions today announced it will upgrade process control and alarm management systems at the Molikpaq platform on the Sakhalin shelf, Russia, to improve safety, reliability and operational efficiency.

The Molikpaq platform, owned by Sakhalin Energy Investment Co. Ltd., celebrated its 15-year anniversary in September 2013. The platform produces 48,000 barrels of crude oil per day.

"Offshore production is associated with a number of risks to workers, the environment and efficient processes, and demands systems that meet the highest reliability, safety and durability standards," said Frank Whitsura, vice president, Honeywell Process Solutions. "Our innovative solutions are designed to meet the requirements needed to operate in harsh environmental conditions and help our partners to improve their operational and cost efficiencies."

The Molikpaq platform was installed northeast of Sakhalin, 16 kilometers offshore, at a depth of 30 meters. In the winter, the temperature, including the wind chill, can be as cold as 70 degrees below zero Fahrenheit.

To modernize the process control system and improve safety at the facility, Honeywell will implement the latest version of its Experion® Process Knowledge System (PKS), which will be extended by the new C300 controller including Foundation Fieldbus license. By enabling unified access to process control, production management and asset management, the distributed control system will help to improve efficiency and profitability, reduce total cost of ownership while helping the facility achieve optimum production of oil. 

In addition, Honeywell will install its DynAMo™ Alarm Suite, which leverages more than 20 years of alarm management experience in the process industries, and can help users reduce overall alarm count by as much as 80 percent, identify maintenance issues, and increase visibility of critical alarms that require urgent attention.

Honeywell Process Solutions ( www.honeywellprocess.com) is a pioneer in automation control, instrumentation and services for the oil and gas; refining; pulp and paper; industrial power generation; chemicals and petrochemicals; biofuels; life sciences; and metals, minerals and mining industries. Process Solutions is part of Honeywell's Performance Materials and Technologies strategic business group, which also includes UOP, a leading international supplier and licensor of process technology, catalysts, adsorbents, equipment, and consulting services to the petroleum refining, petrochemical, and gas processing industries.

Honeywell ( www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; turbochargers; and performance materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London, and Chicago Stock Exchanges. For more news and information on Honeywell, please visit www.honeywellnow.com.

This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.

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