OTC visitors proved our theory that upstream oil & gas organizations totally get the benefits of RFID for asset utilization, risk mitigation and logistics. Simply said, they all understand:
- What RFID is;
- Where it can be used, and;
- How safe it is to use
Many energy and petroleum drillers, service companies, inspection companies, and manufacturers realize how they can benefit from a connected relationship with other parties in the ecosystem who are part of the product lifecycle. The benefits include gaining traceability and documentation from cradle to de-commissioning the asset.
As we spoke with conference participants, we found the following, consistent themes:
- The value of automating data capture exceeds the cost of rugged RFID tags. Visitors agreed the tag cost was negligible compared to the captured data that enables a reduction in capital expenditures due to increased asset utilization.
- As for appropriate frequency, UHF was confirmed as the frequency of choice due to its ability to satisfy both read range requirements and multi-scan functionality.
- Mobility is key to leveraging RFID. Our mobile apps, available on any standard platform, can be used on employees’ existing devices like phones and tablets, or RFID-specific hardware.
Upstream oil & gas visitors were particularly enamored with InfoChip’s 9.5mm DuraPlug9.5 RFID tag and our Xplorer tags for tagging pipe and other tubular assets. The market opportunity is around 15 million new tubular assets per year with an existing inventory of 45 million in service at any given time. These two tags have the ability to increase the life of tubular assets by as much as 50 percent.
We are extremely excited that our rugged RFID tags, hardware consulting and software collectively allow InfoChip to provide holistic solutions to all players in the asset’s lifecycle.