IIoT Helps Oil Companies Weather Market Fluctuations

In late April 2020, crude oil prices temporarily dropped into negative territory, shocking oil industry analysts who had never witnessed a situation where sellers were theoretically paying customers to take oil off their hands. While the negative price of oil was a temporary blip, it highlights the importance of finding cost-saving measures in the oil and gas industry.

Machfu’s low-power industrial gateway is one way that oil and gas companies can cut costs. It saves money two ways: by using edge computing power to operate oil pumps more efficiently and by using less power to operate the gateway itself. There are other technology solutions that can connect pumps and other equipment to the cloud, but only Machfu does it using significantly less power.

Industrial IoT Platform

Oil operations are by nature physically large and spread out. Bringing oil field assets online makes it much easier to monitor their performance, change operating set points, and anticipate maintenance and repair needs ahead of equipment failure. Using the Machfu gateway, operators can analyze a number of parameters from a smart phone or desktop, as opposed to having to go out in the field.

Machfu’s solutions:

  • Improve production efficiency through integration with pump hardware and data analytics using the best practices of modern security
  • Reduce downtime by protecting motors and mechanical components
  • Optimize OPEX and address aging infrastructure through remote monitoring and web services
  • Facilitate asset management and long-term planning to stay ahead of challenges

Learn more about Machfu’s solutions for the oil and gas industry here.

Leave a Reply