The Use of Digital Twins in the Oil and Gas Industry
Abstract
Digital twins are a virtual model in which the virtual and physical worlds are interfaced. The virtual model allows oil and gas companies to perform system monitoring and data analysis in such a way as to increase the efficiency of operations, reduce maintenance costs, accelerate production processes, reduce operating costs, prevent equipment downtime, increase the life cycle of assets and ensure faster decision-making. It is shown that in Russia the technology of digital twins is at the evaluation stage: the concept is used by individual companies, and its use is fragmentally limited to some key projects. However, the positive economic effects achieved, as well as solving the problems of integrating new technology into existing information systems, may in the future create the necessary conditions for the widespread introduction of digital twins into the Russian oil and gas industry. Digital twin technology will allow Russian oil and gas companies to remain competitive in conditions of reduced demand and lower energy prices. The problems of introducing digital twins are largely related to unresolved problems of integration with existing information systems. According to the author, in order to spread the technology, it is necessary to provide opportunities for disclosure and exchange of information between players in the oil and gas sector, as well as the need for joint work to create a digital infrastructure of twins.
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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
About this article
Publication Date
30 September 2024
Article Doi
eBook ISBN
978-1-80296-966-5
Publisher
European Publisher
Volume
4
Print ISBN (optional)
-
Edition Number
1st Edition
Pages
1-1008
Subjects
sustainable development, ecology, economy, technologies, green technologies
Cite this article as:
Husainovna, A. R., & Elimsultanovich, T. H. (2024). The Use of Digital Twins in the Oil and Gas Industry. In K. A. Said-Akhmadovich, & A. S. Salamova (Eds.), Modern Trends in Governance and Sustainable Development of Socio-economic Systems: From Regional Development to Global Economic Growth, vol 4. European Proceedings of Multidisciplinary Sciences (pp. 30-38). European Publisher. https://doi.org/10.15405/epms.2024.09.5