Houston: Offshore survey specialist OES Oilfield Services Group diversified in the nick of time so that the drop in oil prices have not had such a dramatic effect on the US firm. It’s now involved in a wide range of services from lifting inspections, RFID, audits, to special surveys.
The firm’s ceo, Dr Maitland Hyslop says the company’s major challenge is providing a quality service in a cost cutting era.
A big push for Hyslop has been in RFID tagging. In order to have compliance with the various sections of the Sarbanes Oxley Act 2002 (SOX), but particularly Section 404, publicly traded companies operating in the US and also foreign companies operating in the US for US companies, have to be able prove their balance sheets.
OES RFID tagging is used to help operator and contractor companies prove their balance sheets in compliance with SOX.
“Because of its international nature and spread of our industry, SOX does not often crop up as an imperative requirement. However, SOX compliance is up there as an issue for nearly all our clients. Whether they are USA based and owned or working for a USA company they need to comply in some way with SOX,” Hyslop says. “OES’ new products, particularly RFID and Honeywell Tracking, help save money in this critical area because they reduce the cost of knowing where assets are and prove asset existence,” he adds.