Page 44 - HRC_Annual_Report_2023

42 About HRC Value Creation Management Discussion Leadership
& Analysis

FY2023 STRATEGIC REVIEW

FUTURE FOCUS

Staying future ready in an ever evolving industry requires staying nimble and agile to change. We have successfully executed
phase 1 of HRC’s Energy Masterplan and in 2024 we will be doing the preparatory work for 2025 and 2026.
Going forward, we will work towards balancing energy production and security, with the stewardship of the environment.
Through the establishment of our ESG Framework towards net zero carbon emission by year 2050, we now have a roadmap
that provides an opportunity to build value and increase the efficiency of our operations.

Strategic Initiative 1
Initiating the Flare Gas Recovery Unit project flare gases generated during normal and routine operations
instead of burning them to atmosphere, the FGRU will utilise
Recovering flare gas is essential for reducing our carbon these gases as an energy source which will improve energy
footprint and promoting environmental sustainability. efficiency and reduce carbon emissions.
We are actively pursuing the Flare Gas Recovery Unit (FGRU)
project with a firm commitment to recovering as much This project represents one of several strategic initiatives
flare gas as possible for internal use. This project aims to designed to help us achieve our ambitious goal of net zero
recover the high value hydrocarbon gases from flaring and carbon emissions by 2050.
reducing carbon emissions to the atmosphere. By recovering

Strategic Initiative 2

Enhancing energy efficiency through further execution As a result of our focus on better energy management,
of the Energy Masterplan HRC successfully completed four projects during the
TA 2023 as per the Energy Masterplan roadmap that has
In 2023, HRC achieved its best energy performance in the enabled us to improve energy efficiency at site by reducing
past 10 years, surpassing its 2023 target with an actual energy consumption. The projects were as follows:
energy efficiency index (EII) of 104.8 versus target of 106.8.
This was a result of steadfast execution of HRC’s long-term • F-3201 Boiler Retubing
Energy Masterplan. • CO Boiler Economiser Cleaning

Efforts were directed towards continuous optimisation • Replacement of Plat-2 Feed Effluent Exchanger
of overall refinery energy consumption to ensure the • Replacement of CD-2 F-190 Air Preheater
most optimal energy mix is being utilised at any one time.
We developed 2023 EII targets for each process unit
(within the refinery) to encourage better ownership and
drive towards energy optimisation. The successful execution
of Turnaround 2023 has also helped to restore the overall For more details on our Energy Management initiatives, please refer
plant performance enabling greater equipment efficiency. to pages 48 and 49 of our Sustainability Report 2023.

2024 Future Focus Priority:
• Preparatory work for 2025 and 2026 Energy Masterplan initiatives