Fixed Asset Management for Petro Vietnam

Background

Petro Vietnam is a key energy company in Vietnam, with operations covering oil and gas, refining, power generation, and related industries. As business operations expanded, the company accumulated a large number of fixed assets, including production equipment, inspection instruments, tools, IT equipment, and office facilities distributed across plants, processing sites, and offices.

Managing these assets through traditional manual inventory methods became increasingly challenging due to complex asset categories, wide distribution areas, and demanding industrial environments. Petro Vietnam required a more efficient approach to improve asset visibility, inventory accuracy, and lifecycle tracking.
 

Challenge

Complex asset structures across multiple locations
Petro Vietnam manages various types of assets across different operational areas, making manual inventory verification time-consuming and difficult to maintain.

Difficult industrial conditions for asset identification
Oil and gas facilities contain extensive metal structures, equipment, and liquid storage areas, which can affect RFID performance and require reliable identification capabilities.

High workload during field inventory operations
Asset inspections often involve large-scale outdoor operations, requiring equipment that can support continuous use and improve worker efficiency.

Delayed asset information updates
Manual records may result in outdated information, limiting visibility into asset location, status, and usage history.
 

Solution

To support Petro Vietnam’s asset management requirements, Chainway provided an RFID-based solution combining the C5 UHF RFID Reader and R5 Wearable RFID Reader. The solution enables more flexible data collection, faster asset verification, and improved visibility across industrial environments.

• Reliable RFID identification in challenging environments:
  C5 and R5 utilize high-sensitivity UHF RFID technology with optimized antenna performance. Combined with suitable RFID tags, the solution maintains stable identification performance around metal equipment and industrial facilities.
• Hands-free and handheld operation for flexible workflows:
  The R5 wearable RFID reader allows employees to collect asset data while keeping their hands available for field operations. Meanwhile, the C5 handheld RFID reader supports detailed verification, asset searches, and inventory management tasks.
• Faster asset locating and verification:
  With RFID tag locating capability, C5 helps workers quickly find target assets, improving inventory efficiency and reducing the risk of misplaced equipment.
• Real-time asset data synchronization:
  Collected information can be uploaded directly to backend systems, enabling timely updates of asset location, status, and management records.
• Support for extended field operations:
  The devices are designed to support long-duration inventory activities, helping Petro Vietnam maintain stable performance during large-scale asset management tasks.

Result

• Improved inventory efficiency by replacing manual recording with automated RFID-based asset identification.
• Higher data accuracy with RFID recognition performance exceeding 99%, reducing errors during asset verification.
• Enhanced asset traceability by providing clearer visibility into asset location, status, and movement history.
• Improved operational transparency through synchronized asset information and more accessible management data.
• Reduced workload for field personnel by simplifying repetitive inventory and verification processes.
• Stronger digital asset management capabilities through RFID-enabled tracking across energy operations.