A centralizer for downhole OCTG having a storage space capable of housing downhole electronics and other downhole devices, compositions and elements is disclosed. The storage space is located within an inner cavity formed in one or more of the blades making up the centralizer. A capsule is provided for protecting the contents of the items being stored within the inner cavity. The capsule may be hermetically sealed to protect the contents from the damaging effects of downhole fluids. Ports may be provided within the capsule to allow downhole electronics to be connected to sensors and other devices and components residing outside of the capsule.