• About
  • Advertise
  • Privacy Policy
  • Contact
Tuesday, May 17, 2022
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
No Result
View All Result
The Vaultz News
No Result
View All Result

Covid-19 Accelerates Use of Virtual Reality in Oil and Gas Industry- GlobalData

March 1, 2022
Stephen AbankwahbyStephen Abankwah
in Extractives/Energy
0
virtual reality

The adoption of virtual reality in the oil and gas industry has become ubiquitous, aiding oil and gas companies to conduct training, collaboration, and data visualization, due to the prolonged impact of the Covid-19 pandemic, according to GlobalData.

The leading data and analytics company noted that this shift will persist despite the fact that most employees have now returned to offices. VR and augmented reality (AR) enable oil and gas companies to train workers on field equipment in a simulated environment to build their situational awareness.

Notably, the use of VR helps to develop safety procedures at production facilities to address smaller accidents as well as for emergency response. VR simulation can be used to design workflows and identify bottlenecks to optimize a plant’s performance.

RelatedPosts

Orca Gold Shareholders “Overwhelmingly” Approve Acquisition by Perseus

Oil and Gas Majors Diversify Revenue Streams After Committing to Net Zero Emissions

EU’s Innovation Fund Failing Renewable Energy Industry

Ravindra Puranik, Oil and Gas Analyst at GlobalData, commented: “VR technology is becoming commonplace in the oil and gas industry as it helps to visualize 3D simulations of real-world objects. As the industry deals with volatile substances that are often found in dangerous environments, there is a substantial concern for worker safety.”

oil and gas
An Offshore Oil Rig

According to GlobalData’s report, ‘Virtual Reality in Oil and Gas- Thematic Research,’ the global VR market for the entreprise segment, including oil and gas, is expected to surpass the consumer segment by 2023 to reach $32 billion by 2030.

Oil Majors Using VRs in Training Rooms

Taking a cue from the gaming industry, VR is gaining traction in the training of oil and gas personnel. Large oil and gas companies— such as Saudi Aramco, Equinor, and Shell— are using VR to simulate the physical environment in training rooms.

Puranik explained that “Trainee personnel are given VR headsets that deliver an immersive experience of a facility, be it an offshore production platform, a gas processing plant, or a refinery. Although this lacks the real feel of a challenging workplace environment, it is a highly safe and cost-efficient approach to introduce personnel to a new facility.”

 “Digital twins is another critical use case for VR. By allowing engineers to virtually explore production facilities, VR will help in extracting the maximum value from digital twins.

“This could improve plant designs, fast-track the adoption of new solutions, and develop best practices for ensuring the health and safety of field personnel and surrounding communities. For instance, Shell is creating a digital twin of its integrated refinery in Singapore to facilitate remote monitoring and improve operational efficiency and safety.”

Ravindra Puranik, Oil&Gas Aanlyst, GlobalData

Digital oilfield technologies such as digital twins and other remote monitoring solutions will be game changers in upstream oil and gas operations, as oil and gas companies are increasingly adopting these technologies, Global Data noted.

oil major
A digital twin of an oil well

In line with the use of technology to enhance work delivery, major oil and gas operators have begun automating their assets using digital technologies. With the growing use of digital technology this also has a bearing on labour demand availability.

This sets in motion, the trade-off between building employee relationships and promoting safety as well as cutting labour costs. Due to the impact of the Covid-19 pandemic, oil and gas companies are seeking to streamline their costs to recoup demand-led shocks during the pandemic.

READ ALSO: Ghana: Efforts To Tax E-Commerce Laudable

Tags: COVID-19gasIndustryvirtual reality

Send your news stories to [email protected] and via WhatsApp on +233543050759.

Related Posts

mine
Extractives/Energy

Orca Gold Shareholders “Overwhelmingly” Approve Acquisition by Perseus

May 17, 2022
oil and gas
Extractives/Energy

Oil and Gas Majors Diversify Revenue Streams After Committing to Net Zero Emissions

May 16, 2022
renewable
Extractives/Energy

EU’s Innovation Fund Failing Renewable Energy Industry

May 16, 2022
Minerals
Extractives/Energy

Ghana: Adopt Strategic Plan to Build Robust Critical Minerals Value Chain

May 16, 2022
saudi aramco
Extractives/Energy

Saudi Aramco Chalks Highest Oil Profit, Rising More than 80%

May 15, 2022
mining
Extractives/Energy

Asante’s Chirano Acquisition Deal Among 81 Biggest Mining Deals in Q1 2022

May 14, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Previous Post

Akufo-Addo not to Blame for Continuous Fuel Price Increase– Lucky Mensah

Next Post

AfDB Approves Historic Strategy for Quality Health Infrastructure in Africa

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.
Mariupol: Hundreds of Trapped Ukrainian Soldiers Evacuated
Europe

Mariupol: Hundreds of Trapped Ukrainian Soldiers Evacuated

by Edem NyonatorMay 17, 2022
mine
Extractives/Energy

Orca Gold Shareholders “Overwhelmingly” Approve Acquisition by Perseus

by Stephen AbankwahMay 17, 2022
NPP to release flagbearer aspirant guidelines soon- John Boadu
General News

NPP Says It’s Early For Presidential Candidate Suggestion

by Priscilla KorantengMay 17, 2022
Formulate Policies on Aging By Leveraging Available Data- Head of Demographics Statistics
Pension

Formulate Policies on Aging By Leveraging Available Data- Head of Demographics Statistics

by Stephen M.CMay 17, 2022
Passenger Who Landed Plane Without Experience Shares His Story As His Identity Is Revealed
Entertainment

Passenger Who Landed Plane Without Experience Shares His Story As His Identity Is Revealed

by Dorcas DamehMay 17, 2022
Ghana Named Among 3 African Countries Likely To Hike Policy Rate This Month
Economy

Ghana Among 3 African Countries Likely To Hike Policy Rate In May

by Stephen KotochieMay 17, 2022
Mariupol: Hundreds of Trapped Ukrainian Soldiers Evacuated
mine
NPP to release flagbearer aspirant guidelines soon- John Boadu
Formulate Policies on Aging By Leveraging Available Data- Head of Demographics Statistics
Passenger Who Landed Plane Without Experience Shares His Story As His Identity Is Revealed
Ghana Named Among 3 African Countries Likely To Hike Policy Rate This Month
Snow
FIND OUT MORE

The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D

Copyright © 2021 The Vaultz News. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In