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Oil & Gas Technology Report, Virtual & Augmented Reality Report

Virtual & Augmented Reality in Oil & Gas - Thematic Research

The more the oil and gas industry embraces virtual reality technology, the safer, more efficient and more cost effective it will become.

The oil & gas industry needs to change it’s reputation as a dirty and old fashioned industry, to that of a modern, tech-savvy innovator embarking on complex engineering feats while at the same time reducing operational costs by raising efficiencies.

GlobalData’s Thematic Research report states that VR/AR is already well on it’s way to revolutionising the industry in this sense.

  • What you need to know...
  • Staff can both learn and work faster and more efficiently with virtual reality training replacing traditional classroom methods.
  • Oil rig operators can use hyper immersive 3D modelled environments fed through virtual headgear to experience real-world hazards through applications like danger management.
  • The need for continued focus on safety and risk assessment can be supported by VR equipment to help support training and knowledge transfer.
  • VR can optimize operational procedures for drilling wells by introducing an intelligent rig monitoring system.
  • VR headsets can allow technicians to view any issues in offshore rigs from any location. They can identify the issue and explore a suitable solution before they even arrive there to fix it.
  • Augmented & virtual reality to offer sweeping improvements across the supply chain from site exploration in the digital oilfield to last mile distribution.
  • And in a world where children as young as 5 have iPads, attractive technology is the key to recruiting.

With stagnant prices, companies have no choice but to lower their production costs and operating fees.

As technology becomes more affordable it makes sense to take the leap in order to save in the long run.

With the help of VR/AR, the gap can be bridged between the field and the classroom in training, by bringing the hands-on practical experience into the classroom without having to be in the field physically; this can be dangerous, and field trips can be expensive. Having this technology will also be the key to recruiting and training, making job roles more attractive to younger people without the experience.

Read GlobalData’s latest report to learn more.

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