Beyond the Goggles: How Extended Reality is Rewiring the Economics of Oil & Gas

By Lathesh Balakrishna, Associate Director- Digital Strategy, KPMG India

In the oil and gas industry, every hour counts. A single equipment failure or delay does not just disrupt operations- it can cause losses running into millions of dollars. Conversely, even modest improvements in operational efficiency translate into substantial financial gains. The sheer scale and complexity of oil and gas fields, often in remote or hazardous locations and exposed round-the-clock to natural elements, magnify costs tied to breakdowns, maintenance, and workforce training. Against this backdrop, immersive technologies like Augmented Reality (AR), Virtual Reality (VR), and their combined form, Extended Reality (XR), are emerging as game-changers.

From Futuristic Gimmick to Financial Imperative
While many organizations once viewed XR technology as experimental or too futuristic, the landscape is shifting rapidly. A recent proof of concept with a top global oil company exploring XR in refinery operations revealed that the value ...