Abstract: The integration of oil and gas equipment with digital twin technology represents a pivotal advancement towards achieving unmanned, intelligent, and cost-effective drilling and development projects in the oil and gas sector. This study focuses on digital twin technology tailored for oil and gas equipment, aiming to enable functionalities such as behavior monitoring and performance evaluation under challenging operational conditions and environments. Grounded in digital twin theory, the relationship between various systems of oil and gas equipment was considered. By utilizing the description method of multi-disciplinary, multi-level, and multi-physical field coupling, a set of process systems of digital twin technology application for oil and gas equipment based on structural performance response and real-time data mapping was constructed. By taking the rack and pinion drilling rig as the research object, a digital twin of the hoisting system of the rack and pinion drilling rig based on multi-system, multi-scale, and multi-factor modeling criteria was established. The reliability of theoretical research was verified by application demonstration, which provided a set of application theories based on digital twin technology for performance evaluation and life prediction of equipment in oil and gas and related fields.