Mr Hartell said: “You need to be an intelligent consumer, an informed buyer. 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 technology has been used to develop new fields in North Sea fields, including one off Shetland, which was recently awarded £1bn worth of contracts from BP for its first deepwater project. Digital twins can save costs by predicting 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 technology has been used to develop new fields in North Sea fields, including one off Shetland, which was recently awarded £1bn worth of contracts from BP for its first deepwater project. Digital twins can save costs by predicting faults and increase revenues by finding hard-to-reach oil, he said.