The Internet of Things (loT) has paved the way for significant efficiency gains in the oil and gas industry. One concept that has garnered significant attention is the "digital twin". However, there remains a great deal of confusion surrounding what a digital twin actually is and how it can be harnessed to add value to oil and gas operations. Some use digital twin as a synonym for their 3D plant models, others for their predictive maintenance solutions, or their simulation models. The bottom line is that the digital twin is all of these and more and unless operators look at it holistically, they are likely to miss out on some of the benefits.
Digital twins afford companies a number of advantages that would otherwise not be possible, including the ability to run risk analyses, health assessments, and what-if scenarios in real-time; the ability to train personnel in a 3D immersive, risk-free environment; and the capability to detect faults early before control limits are reached. This paper/ presentation will elaborate on how digital twins can be used to enhance efficiency and will address their use in the wider context of the oil and gas industry – with a particular focus on its impact on reducing risk and cost during both the project and operational phases of the asset lifecycle.
The objective is to demystify the digital twin, outline the advanced capabilities it enables and illustrate how oil and gas operators can use this concept to improve their competitive advantage.