Digital Twin

How fast can you respond to ever-changing conditions and still maintain safe, efficient operations with a remote workforce? As oil & gas, midstream and refining companies look for ways to improve efficiency and reduce costs, there are digital strategies that can have an immediate, positive impact. Please join World Oil and AspenTech® industry experts as they discuss how advancements in digital twin technology play a key role in helping companies stay ahead – safely and profitably. Learn how you can: • Reduce operating costs and risks in the “new normal” • Adapt quickly to new conditions and avoid process fluctuations • Lower energy costs and emissions while maintaining peak efficiency • Leverage digital twins, hybrid models and other innovations to meet sustainability targets All energy industry professionals involved in operations improvement should attend. The presentation will highlight best practices for deploying digital twins and there will be a Q&A session following the event.

This solution enables mCloud to take advantage of high-precision 3D laser scanners to create digital replicas of facilities along with a suite of capabilities designed to use these 3D models to streamline field work, minimize facility downtime, and eliminate unnecessary field visits.

The methodology aims to bring a level playing field to the sector’s varying technical definitions of, and expectations towards digital twins. It will set a benchmark for oil and gas operators, supply chain partners and regulators to establish trust in digital twin-generated data for performance and safety decision-making in projects and operations.

DNV GL proposes the “Probabilistic Digital Twin” (PDT) to close the gap between digital twins – used increasingly by operators to manage the performance of their assets – and risk analysis still largely conducted manually before assets enter service.

Following the partnership formed by GE and Noble Corporation plc, the two companies launched the world’s first digital drilling vessel, targeted to achieve 20% operational expenditure reduction across the targeted equipment and improve drilling efficiency.

Lorenzo Simonelli, Chairman and CEO of BHGE, opened up the 2018 BHGE Annual Meeting (BHGE AM) in Florence, Italy, on Jan. 29 with a talk welcoming attendees. The 19th Annual Meeting is a record year for attendance, according to the CEO.