Oil and Gas: The age of digital twins
Digital twin adoption continues to skyrocket across many advanced manufacturing and process industries, none more so than oil and gas.
Every physical asset, process, product and thing is vigorously undergoing a virtual transformation to “reduce operational risks and maximise returns from their assets through digitalisation”.
Earlier this year, we spoke about the digital transformation solutions which will disrupt the plant landscape in 2019, however Digital Twin technology has already surpassed all of our expectations.
Here’s how digital twins are defining Industry 4.0 and reinventing our perceptions of what digital transformation and IoT technology really is.
Digital Twin fever
Like me, you may have discounted digital twins as a far-off future technology alongside flying cars (which are also terrifyingly close to production).
The reality, however, is that adoption of digital twin technology has taken a vertical incline amongst oil and gas companies (especially upstream oil and gas). The question, though, is why?
- Visualisation – Allows users the ability to translate a physical asset in a virtual, 3D environment.
- Simulation – Test assets against different market scenarios.
- Asset maintenance – Through real time data, Digital Twin technology allows maintenance engineers to make informed decisions.
- Future design – Through collaboration and data sharing, a digital twin allows future designers to learn and replicate success from existing assets.
The above are a handful of ways to optimise the performance of real assets whilst reducing downtime and costs. It’s also worth noting that adoption has largely risen since the crash in crude oil prices.
Software & consultancy trailblazers
Thankfully, the Digital Plant sector is populated by sophisticated and advanced software providers who continue to advance Digital Twin technology.
2019 alone has experienced Digital Twin partnerships and mergers including:
- Bentley Systems & Siemens launch digital twin for DER resources
- Aspen Technology & Hexagon have joined forces for Digital Twin Workflow Solution for EPC Firms.
- ABB and Dassault join forces over Factory Automation software.
Supporting the implementation process are global consultancies who are enhancing Digital Twin accessibility and adoption rates by providing expert support, such as Worley Parsons’ work with BP.
Digital Twins are made possible by using a multitude of different technologies including the likes of sensors, AI, machine learning, simulation, drones and many others.
What’s even more promising is that Digital Twins are receptive to new plug-in technology which allows even further advancements to be made with regards to analysis, storage and data optimisation.
My reservation is that Industry 4.0 continues to move towards a monopolistic market which may restrict the level of breakthrough innovations we experience in the future regarding Digital Twins.
FMC Smart Industry
How will Digital Twins help advance your digital transformation? Do you think large software organisations are restricting future software innovations within advanced manufacturing through mergers and acquisitions?
FMC Smart Industry is the key sales and leadership talent partner driving through the digital transformation agenda for the Plant, Manufacturing and Construction industries.
If you’re looking to hear more about the career opportunities we’re working on, or seeking more information about the services we provide, email me at email@example.com or call me on +44 (0) 1275 840 673.