RFID Technology for the Oil and Gas Industry
The Oil and Gas industry is a multibillion dollar industry and considered the economic engine for driving many countries. This industry has many phases in its supply chain including exploration and drilling, crude transportation, refining, product transportation and finally retailing to end customers.
RFID technology provides this industry with the tools to track all their inventories in exploration, production and delivery of their refined products to their customers. The supply chain that operates an oil rig requires tracking thousands of assets. Losing or misplacing the location of critical assets in the drilling of new wells can greatly impact the production process and the associated costs and in some cases stop production.
RFID technology in Oil and Gas Supply Chain has proven to provide the following benefits:
- Optimized production scheduling
- Increase in production yields and throughput
- Optimized information flow to and from field workers
- Reduced human errors during inspection, production, and order processing
- More informative corporate decision making
- Access to real-time inventory status
RFID technology is being used mainly as an asset management tool that provides efficiency management and control over many assets.
The use of passive RFID tags allows companies to keep track of critical assets. Today, passive RFID technology is available for containers, pipes, tools, cases, pallets and wide array of asset classes.
The benefits of RFID technology can help all facets of the production process including:
- Improved production uptime of drilling equipment.
- Increased asset utilization.
- More efficient and cost-effective regulatory reporting.
Remonix has been representing XINDECO TECHNOLOGIES in the North American Market for the last two years. XINDECO have designed and manufactured state-of-the-art RFID products via their CodeTag RFID Group to assist this industry in maintaining its global competitive advantage.