Real-Time Production Optimization - Applying a Digital Twin Model to Optimize the Entire Upstream Value Chain

The oil and gas industry is increasingly looking toward data-driven solutions to boost performance, enhance efficiency and reduce costs. However, understanding such complex systems requires the consideration of data from multiple sources in real time. Digital Twin modelling is at the heart of the next generation of real-time production monitoring and optimization systems. Using the integration of data, simulation, and visualization of the entire operating company value chain, from the subsurface equipment to central processing facilities, it's a solution that maximizes production. Such a system for Real-time Production Optimization (RTPO) has been developed jointly by Siemens and Process Systems Enterprise by combining their XHQ and gPROMS Oilfield technology.