Metaverse was the tech buzzword of 2022. Following the explosion of Metaverse hype caused by Meta’s rebranding, consumer and investor interest dropped noticeably. Unstimulated demand, high development costs, and new disruptive forces like inflation and generative AI have derailed the loftiest expectations. This is good. Now, without rose-tinted (smart) glasses, we can more realistically assess the opportunities presented by the metaverse.
Metaverse technology has delivered real value to the energy sector for several years before Meta’s rebranding in 2021. Mark Zuckerberg’s interpretation of the Metaverse (a virtual world where humans can socialize, collaborate and spend time together via avatars) currently offers little value to the energy sector. But elements of the industrial metaverse, such as digital twins and enterprise VR and AR experiences, will improve asset management, employee training, and other business operations long before the metaverse becomes his Web3 icon of 2022. was doing.
What are the main use cases?
The digital twin is one of the most valuable elements of the metaverse for the energy sector. A vast network of industrial infrastructure supports power and oil and gas operations. Oil and gas companies rely on oil rigs, pipelines and refineries, while power companies rely on energy generation, storage and transmission infrastructure. These large, expensive, complex and often dangerous assets must be operated and maintained as efficiently as possible. Digital twins of these assets enable remote management and predictive maintenance, while also improving employee safety.
At a larger scale, a digital twin of the entire infrastructure network can improve supply chain management by providing operational insight into multiple interconnected assets. It can also facilitate mergers and acquisitions. If both the acquirer and issuer have a digital twin of their infrastructure, analyze the cost and revenue synergies of operating both infrastructures together during the transaction discussion phase and perform due diligence becomes easier. It also makes it easier to identify the best way to integrate both operations once a deal is agreed.
AR and VR experiences also add value. Equip field workers with AR headsets to provide remote technical support. VR-based training teaches employees how to work in hazardous industrial environments without exposing themselves to danger before they’re ready.
Blockchain use cases are also being found in the energy sector. For example, blockchains can provide a distributed ledger for the buying and selling of energy within a microgrid. Additionally, blockchain can be used to track the source of energy streams, allowing consumers to see how energy is produced and choose local, renewable sources.
Who are the key adopters?
shell is a major adopter of the metaverse in the oil and gas sector.Over the past five years, Aveva, Kongsberg, and bentley systems. We are also integrating AR and VR into our operations for remote assistance and training. Within the power sector, EDF energy It has proven to be particularly innovative in developing digital twins for the nuclear industry.is affiliated with capgeminiAbaba, Dassault Systèmes To this end, we also founded our own digital twin startup, Metroscope. Both the French and British governments are eyeing his EDF Energy for research and development of digital twin-enabled nuclear facilities.