GlobalData’s latest thematic report, ‘Augmented Reality in Oil and Gas’, provides an overview of the potential for augmented reality (AR) in the oil and gas industry. It identifies key AR trends and also highlights how industry leaders are incorporating this technology within their operations.
Enterprise AR is forecast to reach $100bn by 2030, and oil and gas companies will be key players in this growth phase. AR can be effectively incorporated during training and while performing day-to-day tasks of field technicians in a secure and economical manner. Companies that fail to capitalise on this opportunity will continue to lag behind in upskilling their workforce in the future.
Oil and gas companies are increasingly realising the potential for AR to improve the efficiency of their operations. AR’s ability to facilitate remote assistance could save machine downtime and lengthy maintenance visits from technicians to sites. AR devices that are safe, secure and hands-free are the missing link between increasing volumes of data under the digitalisation of the industry and the application of this information to situations where it is needed.
AR has become a common tool for facilitating remote assistance. Chevron uses Microsoft’s productivity apps in conjunction with the HoloLens AR headset to streamline the repair and maintenance process. The powerful software-hardware combination allows live communication between field workers and experts through a shared video feed, as well as the capacity for experts to draw annotations to help guide workers.
AR can offer small improvements to the environmental, social and corporate governance (ESG) credentials of oil and gas companies. It can be used to improve workplace safety and thus boost the social pillar of ESG. AR can also be used in combination with internet of things (IoT) to identify and prevent sources of emissions, including methane leaks. Additionally, AR can act as a vital visualisation tool in the design, construction, operations and maintenance of industry assets.