Digital twin in hydrocarbon industry

The hydrocarbon industry is considering a range of digital technologies to improve productivity, efficiency, and safety of their operations while minimizing capital and operating costs, health and environmental risks, and variability in oil and gas project life cycles. Due to the emergence of industry 4.0 the improvement in performance, efficiency, and cost reduction, the hydrocarbon industry is gradually shifting towards solutions that are data-oriented. Understanding such complex systems involves the analysis of data from various sources at the same time. Digital Twin (DT) modelling is the foundation for the next generation of real-time production monitoring and optimization systems. It is a solution that boosts productivity by combining information, simulation, and visualization throughout the entire value chain of an operational firm, from subsurface equipment to central production plants. Oil and gas companies can majorly benefit from Hydrocarbon Exploration with the right use of such advanced technologies. This study focuses on the advancements in technology in the context of DT and how it has been used by the hydrocarbon industry. The study discusses about the emergence of the DT concept, various types, 5D representation, and tools for DT. Further, the study tries to implement fields of DT in hydrocarbon industry especially in the domains of exploration, drilling, and production. Challenges associated with DT strategy like accessibility, confidentiality integration, and maintenance are also discussed.