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China Petrochemical News Network reported on May 18 that the oil and gas industry has traditionally lagged behind in the application of interconnection technology, but today, the industry is increasingly adopting digital twin technology to improve decision-making.
The global blockade has severely affected global energy demand, and it has also caused project delays due to supply chain disruptions.
According to GlobalData's latest report "Digital Twins in Oil and Gas", the basic work of this technology may have been around for some time, but it will only be put into use when profitability is at risk.
Ravindra Puranik, an oil and gas analyst at GlobalData, commented: “The company has begun to build models to provide answers to the question of'what if' or'what will happen'.
Like the Internet of Things (IoT) technology, the lack of standardization also hinders the adoption of "digital twins" to some extent.
Ravindra added: “Newer oil and gas projects such as Equinor’s Johan Sverdrup or BP’s Clair Ridge are becoming benchmarks for the adoption of digital twins.
Cao Haibin excerpted from Oil & Gas News
The original text is as follows:
Digital twins to become mainstay for oil and gas
The oil and gas industry, which is traditionally a laggard in the adoption of connected technologies, is increasingly deploying digital twins to improve decision-making.
Worldwide lockdowns have significantly impacted global energy demand, while also causing project delays due to supply chain disruptions.
According to GlobalData's latest report,'Digital Twins in Oil & Gas', the groundwork for this technology may have been in place for some time, but its actual deployment was seen only when profitability was at risk.
Ravindra Puranik, Oil & Gas Analyst at GlobalData, commented: “Companies have started to build models that will provide answers to'what if' or'what will' questions.
Like Internet of Things (IoT) technologies, the lack of standardisation has somewhat hampered the adoption of digital twins as well.
Ravindra adds: “Newer oil and gas projects, such as Equinor's Johan Sverdrup, or BP's Clair Ridge, are emerging as benchmarks in digital twin adoption.
