Machfu IIoT Solutions and Petrasoft Partner to Bring Low-Cost, Digital Automation to the Oilfield

Machfu IIoT Solutions

Cloud-based solutions expand operator options, deliver immediate results

ROCKVILLE, MD (July 21, 2020) – Industrial internet of things leader Machfu IIoT Solutions and oil and gas solutions provider Petrasoft have partnered to combine the power of the Machfu IIoT Gateway and Petrasoft’s FieldAssist Suite, the companies announced today. The partnership provides oil and gas operators a cost-effective yet feature-rich solution to deliver real-time surveillance across the oilfield.

“Given the volatility in the oil and gas markets, many operators are hesitant to make large capital investments that may take several years to pay off,” said John Geiger, Vice President of Business Development, Machfu IIoT Solutions. “By combining the Machfu IIoT Gateway with the FieldAssist Suite, operators can reduce costs and improve efficiency immediately, getting more out of their investment.”

The Machfu-Petrasoft solution gives operators the ability to monitor every stroke of a pump in real time instead of having to download and review data once a day. This high-speed connectivity allows operators to automatically tweak the performance of wells to maximize their operational efficiency. It also lets operators take advantage of prescriptive outcomes, which means the new, rich datasets will not just provide information about a particular parameter, but it will also provide a recommendation about the best course of action.

“Customers looking for an enterprise class intelligent well surveillance solution and a smart IIoT Gateway to communicate with field devices can now enjoy the benefits of a fully integrated solution,” said Ramesh Sivaraman, founder of Petrasoft. “We are committed to providing a low-cost integrated SaaS solution that would be equally appealing to small and large oil and gas companies.”

Machfu’s IIoT Solutions are designed to address edge computing needs for critical infrastructure and industrial applications. Machfu IIoT Solutions provides secure edge to cloud connectivity for industrial controllers, SCADA systems, and other sensors in the field. Its unique low power edge intelligence capabilities, powered by a sandboxed, customizable application framework, greatly simplifies configuring, connecting, managing and processing data from sensors and controllers speaking legacy or modern protocols. Machfu IIoT Solutions increases visibility of critical infrastructure and reduces operational downtime and maintenance costs.

Petrasoft’s FieldAssist Suite is an enterprise class set of products designed for well analysis and optimization in the digital oilfield. By transforming raw data into actions and actionable information, it assists upstream operations to maximize oil recovery, optimize artificial lift systems, minimize down time and decrease well failure rates. FieldAssist can also integrate with other existing corporate systems to increase customer’s ROI in these systems. FieldAssist has been in use for over 12 years across dozens of fields worldwide by hundreds of users to manage over 30,000 wells.

Also Read: How necessary is Industrial IoT Application for your business?

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