Marathon Oil Company of Houston, Texas has used RFID tags in its operations. Instead of using traditional mechanical systems, hydraulic pressure and fluid pulses, a downhole tool is set up with an RFID reader and the tool is activated when RFID tags are read along the length of drill pipe. Marathon Oil has recognized various benefits from the use of RFID, the most important initial goals is reducing costs and rig time, Marathon Oil has also estimated that by implementing such an RFID-powered system, they could save at least $17 million in annual costs. While cost savings are a great achievement, Marathon Oil also pointed out that this solution could result in improvements to operational safety.
The above mentioned facts are so important after the Deepwater Horizon disaster, the use of RFID for downhole drilling and many other aspects of natural resource exploration seem to be revolutionary.
Source: http://rfid.thingmagic.com/rfid-blog/?month=10&year=2010
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