Staying competitive requires more than just operational benchmarks. Digital twins are causing a paradigm shift in refinery operations by providing real-time insights and advanced analytics. According to McKinsey, the global market for digital-twin technology is expected to grow about 60% annually over the next five years, reaching $73.5 billion by 2027. Additionally, GlobalData reports that digital twins are becoming common in oil and gas operations. They allow companies to simplify processes, prevent breakdowns, improve safety measures, and boost overall profits.
Across the oil and gas supply chain, companies are using digital twins to optimize their processes. This advanced technology impacts operational efficiency, profits, and long-term sustainability. Following are seven ways accurate models impact your business:
1. Precision Through Data Reconciliation
Accurate models ensure that mass, energy and elemental balances match up across operations. By integrating intrinsic Key Performance Indicators (KPIs) - such as catalyst lifecycle, cyclone velocities, and heat balance – businesses gain deeper insights to optimize operations. This holistic approach to data management eliminates inconsistencies while empowering you to make informed decisions, push units to their full capabilities, and sustain benefits via margin improvement indicators. Precise benchmarking further allows you to pursue margin improvement opportunities while keeping operations steady.
2. Real-Time Monitoring and Actionable Insights
Digital twins capture an asset’s history and forecast its future to identify issues before they arise. KPIs and advanced analytics play a key role in modeling your operations in real time. These KPIs look at actual plant data, adjusted plant data, and metrics calculated by first-principle models. By comparing measured, simulated, and LP model data, you get a chance to see and fix problems before they arise, as shown in Figure 1. Additionally, real-time updates supported by automated backups and scalable data pipelines ensure continuous monitoring with minimal downtime.
3. Streamlined Workflow Automation
Automated calibration, tuning, and health monitoring keep models up-to-date and alerts users when their models need attention. Figure 2 illustrates how KBC Acuity™ Process Twin Pro cuts out manual inefficiencies and provides automated services like backup and managed recovery, containerized scaling, and unplanned downtime prevention. Teams can then focus on strategic, value-added tasks that result in enhanced decision-making and sustainable operations.
4. Better Teamwork via Cloud Integration
Businesses thrive when people work together. KBC Acuity Process Twin Pro, hosted on Yokogawa Cloud, facilitates secure, real-time data sharing 24/7. Features like single sign-on, multi-factor authentication, and API gateway security ensure IT robustness. By reducing infrastructure costs and leveraging industry best practices, businesses achieve agility in decision-making and aligns day-to-day priorities with strategic goals.
5. Predictive Analytics for Decision-Making
Accurate models give businesses the power to forecast scenarios offering them a competitive edge in planning and operations. By analyzing possible scenarios (ie: “what if,” “what’s best,” “what’s next”), companies can reduce risks, seize opportunities, and stay ahead of market trends. Predictive capabilities help businesses optimize their resources and avoid problems.
6. Improved Sustainability and Regulatory Compliance
Accurate models help companies cut emissions and meet strict environmental regulations. By automating updates, managing data pipelines, and reducing manual processes, KBC Acuity Process Twin Pro can help lower carbon footprints and operational costs. As an example, process digital twins have been shown to cut manual maintenance time in half, leading to yearly savings of up to USD 10 million while minimizing the environmental footprint.
7. Increased Operational Flexibility and Value
KBC’s cloud-based solutions enable businesses to grow on demand without additional infrastructure investments. This flexibility is key to navigate dynamic markets and stay ahead of rivals. Also, process digital twins let companies align with evolving processing requirements to ensure they're ready for advancements in petrochemicals and refining. With tools like LP Model Assurance and Process Simulation Model Assurance, businesses gain reliable results, optimize scheduling, and reduce inventory costs to achieve their full potential.
Conclusion
Accurate models are more than just tech tools - they're strategic assets that help companies maintain a competitive edge in a fast-changing market. KBC Acuity Process Twin Pro shows how advanced modeling, real-time analytics, and cloud integration can shift operations and deliver measurable results. By using digital twins, companies can strengthen output, profits, and eco-friendliness for Bringing Decarbonization to Life®.
Want to see how AI can optimize refinery operations? Watch Overcome Digital Twin Maintenance Challenges to Optimize Operations to discover the full potential of your assets.