As a refiner, you’re aware of the rapid digital transformation sweeping across the energy industry. From exploration to refining, petrochemicals, and beyond, digitalization is reshaping operations and revealing new opportunities. In fact, Heriot Watt University shares that digital technologies will continue to play a significant role in transforming the oil and gas sector, potentially unlocking $1.6 trillion to $2.6 trillion worth of revenue by 2025.
Using digital tools is not a new trend. According to the International Energy Agency, the energy industry has been adopting digital technologies since the 1970s. Oil and gas companies have long recognized the value of technology and automation to improve operations and safety across their operations, too. In recent years, digital transformation has accelerated, with advancements in areas such as artificial intelligence, machine learning, and advanced data analytics that have provided refiners with significant opportunities.
One of the key areas driving this digital transformation is the use of process simulation models, often referred to as "digital twins." "Digital twin software has changed refinery operations," said Rodolfo Tellez-Schmill, product champion for process simulation technology. He adds, “When the (Petro-SIM®) digital twin is maintained, you can save 20 to 30 cents per barrel of oil processed in a refinery.”
For refiners, maintaining and updating digital twin models have been an ongoing struggle. "Often, the time and effort needed to perform extensive data analysis and model updates often outweigh the benefits, resulting in lost profit opportunities and inaccurate planning," said Soni Malik, product management senior consultant. In fact, during a KBC webinar, Future of Process Simulation in a Digital World, attendees were asked about their biggest software challenge. Forty percent of respondents cited difficulties in immediately identifying model deviations, distinguishing data issues from model issues, and updating the model to maintain its value.
As shown in Figure 1, dated or inaccurate digital twins can lead to production losses and increased operating costs, which can significantly affect your bottom line.
Now, you can manage your digital twins with the KBC AcuityTM Process Twin Pro application. This cloud-based, AI-powered solution simplifies monitoring and maintenance of digital twins by providing health indicators and supporting evidence to help you confidently manage all assets across all sites. Running on the Yokogawa Cloud platform, it streamlines the model maintenance process, delivering refiners with powerful benefits as shown in Figure 2.
Figure 3 illustrates how continuously monitoring an asset’s digital twin health, and automating workflows helps ensure your digital twins remain accurate and up to date.
Continuous monitoring leads to significant operational improvements, with KBC's internal data showing the application can cut manual model maintenance by up to 50%, resulting in annual savings of up to USD 10 million.
The solution's advanced collaboration, alert features, and expert-guided optimization strategies enable your team to focus on more valuable work, driving greater productivity and profitability across your operations. You can share best practices and ensure a single version of digital twins is used by all business units.