The upstream oil and gas industry is pushing to apply digital technologies to exploration and production practices, yielding better business returns by optimizing processes and increasing efficiency. From replicating a complicated well design to refining a well control system to sharply decreasing the risk of a blowout, the ‘digital twin’ is one more concept advancing the industry’s digital transformation.
Since production of the Boeing 737 aircraft began in 1967, the time needed to complete construction of a single jet has gone from several months to just eight days. How did Boeing do it? In many cases, the company applied sophisticated computer software to the challenge of improving its manufacturing processes, organization and efficiency.
Today, the oil and gas industry is applying similar digital solutions to reduce operational risk and ensure premium performance throughout the life of its assets. Specifically, these solutions monitor, model and view real-time oilfield operations above and below ground as “digital twins,” sophisticated 3D simulations that help operators visualize and understand what the huge volumes of data generated by ongoing oil and gas projects really mean – and how to act on it.
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