Working Towards a Digital Twin for E&P
As the E&P industry adjusts to the new economic climate and the lower
price of oil, organizations are confronted by the pressing need to lower
costs and increase efficiency. Therefore, the digital transformation of
the E&P industry has become an imperative if companies are to survive
and succeed in this digital era.
This digital transformation is multifaceted and includes cloud
technology, automation, artificial intelligence and machine learning. One
very important concept that is gaining momentum is the application
of digital twins across the E&P lifecycles. The ability to have a digital
representation of the various operations allows the industry to test
and model multiple scenarios before committing resources to building
physical twin. This approach, therefore, can help to cut costs and
increase efficiency...