Abstract: The combination of oil and gas equipment and digital twin technology is a key step to realize unmanned, intelligent and economical oil and gas drilling and development projects. In order to realize a series of functions such as behavior status monitoring and performance evaluation of equipment under complex working conditions and harsh working environment, the digital twin technology of oil and gas equipment is studied. According to the theory of digital twin technology, considering the relationship between various systems of oil and gas equipment, combined with the description method of multi-disciplinary, multi-level and multi-physical field coupling, a set of process system of digital twin technology application of oil and gas equipment based on structural performance response and real-time data mapping is constructed. Taking the rack and pinion drilling rig as the research object, a digital twin of the lifting system of the rack and pinion drilling rig based on multi-system, multi-scale and multi-factor modeling criteria is established. The reliability of theoretical research is verified by application demonstration, which provides a set of application theory based on digital twin technology for performance evaluation and life prediction of equipment in oil and gas and related fields.