4 ways digital twins can drive value for oil and gas companies during construction
As the oil and gas industry continues to get back on its feet, it’s critical for companies to be proactively seeking disruptive technologies that will upgrade their current operations and offer a competitive edge. This is one reason digital twinning has become increasingly popular for industrial operations.
“Gartner predicts that by 2021, 50% of large industrial companies will use digital twins, resulting in those organizations gaining a 10% improvement in effectiveness.”
The proper planning and quality of construction of any well site has immediate and long term effects on the efficiency, productivity, and profitability of that well. The accuracy of replication that digital twins offer is where their true value lies. From optimized roadway planning, to sensor reporting for just-in-time adjustments, digital twin technology can be used to improve almost any operation. Digital twin technology is highly versatile and can be used in any stage of a well’s life including construction, drilling, and during ongoing production.
Below outlines a few benefits digital twinning can offer oil and gas companies during construction.
1. Optimized pad and roadway planning
Pre-plan all pads and roadways years ahead of time to optimize for space, eliminate downtime, and mitigate environmental obstacles.
2. Road maintenance/condition monitoring
Sensors can be attached to vehicles to provide continuously updated data on road conditions, including the presence of potholes or locations at risk of future washouts. The knowledge of where to specifically focus road maintenance efforts can help save both time and money.
3. Centralized dashboard for just-in-time adjustments
By integrating GPS and sensor reporting, management can be given a 3D dashboard of where operators and machinery are located at any given time, as well as any other meaningful data represented on a per-unit basis. This provides complete visibility at any time, and unlocks just-in-time adjustments based on variable conditions.
4. Pre-spotting buildings and structures
Virtual site replicas can be used to pre-spot buildings and structures, helping reduce the size, build time, environmental footprint, and overall cost associated with constructing leases.
Oil and gas companies face an uncertain future. As the industry continues to battle with sluggish pricing and vagaries surrounding an over or under-supplied market, now is the time to focus on developing a resilient strategy to mitigate future risks and focus on productivity in the short run. For many, the answer lies with applying new technology such as the digital twin. The Internet of Things has made it financially feasible for companies to take advantage of this technology, which means it is now in the hands of oil and gas executives to take action, or otherwise risk struggling to keep up.