Using digital twins on offshore assets can increase oil production by as much as 8 % , said David Hartell , senior development manager at UK exploration and production company Premier Oil . A digital twin , essentially a virtual dynamic simulation model of an asset , is initialised based on the asset 's design phase and is then updated as the asset is built and commissioned . And finally the physical asset itself is instrumented with sensors which capture the current operational states.” The equipment , in Premier 's case a flexible riser , is then fitted with sensors , Hartell said . Digital twins can save costs by identifying faults and increase revenues by finding hard - to - reach oil , he said .
Using digital twins on offshore assets can increase oil production by as much as 8 % , said David Hartell , senior development manager at UK exploration and production company Premier Oil . A digital twin , essentially a virtual dynamic simulation model of an asset , is initialised based on the asset 's design phase and is then updated as the asset is built and commissioned . The equipment , in Premier 's case a flexible riser , is then fitted with sensors , Hartell said . Digital twins can save costs by identifying faults and increase revenues by finding hard - to - reach oil , he said .