Digital Twin technology in Upstream Operations

The Cyprus SPE Section/AAPG Student Chapter cordially invites you to the following event:

Digital Twin technology in Upstream Operations

Abstract

Digital technology is enabling the industry to undergo a fundamental transformation. The transformation is occurring across three main pillars. Firstly, a shift from traditional heavily manned operating models, secondly a transformation in the required profiles and competencies, and finally a radical change in the way data is utilized.

Oil and gas operators tend to be data-centric with a focus on data acquisition for physical modeling to predict and optimize field performance and asset integrity. However, this was primarily done on a discipline basis and data was used for specific modeling. Through digital technology, operators are now leveraging the full power of data integration, contextualization, and analytics, generating a multitude of insights that are focused on making faster decisions on disciplinary and multi-disciplinary levels. The greatest impact of digital will most likely come from breaking down the traditional oil and gas siloed workflows. Data contextualization and collaborative tools across organizations can ensure teams focus on value-adding activities, rather than process-driven activities in design, planning, execution, and operation timeframes.

There are three main technology components that will deliver the most value for digital oilfield operators. Firstly automation, both in terms of strong monitoring capabilities and remote-control capability, secondly machine learning and AI predictive capabilities, and lastly but most importantly Digital Twin technology. Besides offering a stable and realistic modeling basis on which to develop multiple value-driven use cases, it represents the physical asset’s real condition at any point in time. The industry is already moving towards this technology with significant momentum, spearheaded by major IOCs including Shell, BP, and Equinor. Most significantly, Digital Twin technology generates substantial value without the high cost of automation or the uncertainty of ML/AI, whilst at the same time acting as the platform to develop both leveraging a value-driven approach and a digitally enabled operating model.  

Speaker’s bio:

Mr Marinos Constantinou is an Expert Consultant in Energy working for the Boston Consulting Group (BCG) and based in the U.A.E. He works with both IOC’s and NOC’s in the Middle East and Europe to deliver large scale transformation and implementation projects. His current work is focused on Upstream Operations and Digital including leading projects to develop and implement Digital Twin technology.

Prior to joining BCG, Marinos worked as a Production engineer for Royal Dutch Shell both in the HQ for Projects and Technology focusing on maturing major upstream projects through to FID, and also in Upstream Operations in Shell Gabon.

Marinos holds a First Class Honors MEng degree in Aeronautical Engineering from Imperial College London and is a Chartered Engineer, CEng MIMechE, by the Institute of Mechanical Engineers in the U.K.

The talk will be held online and will open to the public. Please save the date:

Date: Wed. 19th May, 2021

Webinar time 17:30-18:30 (Cyprus Time); Click Here for link


You may also find interesting:

Leave a Reply

Your email address will not be published.