Initial forays into using digital twins across its major fields has inspired the multinational hydrocarbon exploration and production company to further adopt the technology across its entire portfolio. Credit: ConocoPhillips With demand for low-cost energy ever increasing, along with competition from renewable sources of energy, ConocoPhillips is leveraging digital twins to optimize the safety and efficiency of its assets. The Houston-based company, with origins dating back to 1875, is on a path to adopt portfolio-wide digital twin technology following successes across its major fields. Dubbed the ConocoPhillips Global Digital Twin Program, it’s earned ConocoPhillips a 2023 CIO 100 Award in IT Excellence . Oil and gas is a volatile industry rife with sudden and significant fluctuations in prices. At the same time, the current regulatory environment makes it challenging to explore for new hydrocarbons, putting pressure on companies like ConocoPhillips to maximize extraction from existing assets. SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. “We’re constantly looking for ways we can improve efficiency and optimize the production of our assets,” says Nick Purday, the company’s IT director of emerging digital technology (EDT). “One of the things we’ve been […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
