While more and more industries are embracing digital technologies for conducting inspections, the oil and gas industry does not seem to be in a hurry to let go of their conventional pen and paper or Excel-based processes. Based on Deloitte’s digital maturity index, the oil and gas industry is significantly behind other industries when it comes to digitalization.
The oil and gas industry is one of the biggest sectors in the world in terms of annual revenue, producing an estimated $3.3 trillion yearly, according to IBISWorld. About 30 billion barrels of oil are consumed globally every year. Oil also accounts for a substantial percentage of energy consumption – 32% for Europe and Asia, 40% for North America, 41% for Africa, 44% for South and 53% for the Middle East.
Inspections in the oil and gas industry, even offshore, are still often performed with the help of a paper-based system. But holding on to the traditional way in today’s fast-paced world brings too many limitations and risks. The likelihood of human error due to inattentiveness is much higher with paper-based systems and those can have fatal consequences. Oil spills cause vast environmental and health damages and effectively preventing them should be a priority for all oil and gas companies. More and more companies realize this and as a result, are making the switch to digital tools.