Streamlining Oilfield Operations

Success is closely connected to timely and error-free delivery of product through a complicated, high-value supply chain. Proper equipment maintenance, inventory and asset management are not only regulatory issues, they are strategic operational imperatives for business performance.

Locating and managing valuable equipment in the oilfield has always been a challenge. It is a 24/7 operation with assets like: generators, pumps, heavy equipment, vessels and cargo baskets constantly in motion across frac pits, drilling rigs, platforms, shore bases, marine vessels and trucks.

Asset tracking and management has traditionally been a tedious, labor-intensive endeavor where operators and service providers have manually managed inventory counts in spreadsheets and sometimes been forced to guess the specific locations of assets. And that was just the equipment's location-maintenance or compliance information was a completely different set of data to maintain.

During the last decade, many have embraced new technologies like GPS and RFID to track the location of equipment and various inventories. While those technologies have afforded some nice operational benefits, they are still limited as standalone offerings.

Companies now have the ability to realize significant business intelligence and operational efficiency gains with new hybrid technology solutions like web-based asset tracking and management platforms. Many companies are now using such software and hardware solutions, which leverage a blend of GPS, RFID and other wireless technologies to automate and streamline the process of managing assets in the field. Companies simply log into a secure website to view the location of equipment in real-time and manage thousands of pieces of equipment with the click of a mouse.

Whether a company is managing 50 or 5,000 assets, the online asset management system helps it access the information it needs, including more than just equipment location. Ensuring equipment is properly serviced and certified to the latest industry standards is important. To simplify the process, the system offers the ability to automate compliance and equipment maintenance functions in tandem with tracking capabilities. For example, a flagging and alert system tracks routine maintenance and other tasks, automatically generating e-mail reminders when action is required. The system also enables users to store documents online such as: sling inspections, loading tests, certificates, engineering drawings and other requirements.