The oil and gas industry is facing increasing pressure to improve operational financial results, while continuing to meet the expected demand for energy. In response to these challenges the industry is seeking to cost effectively discover and develop reservoirs. Oil and gas companies have a history of involvement in asset management and have realized the benefits and cost savings in terms of improved asset availability and reliability. Operational excellence in asset management is achievable with the availability of asset information in real time. Radio Frequency Identification (RFID) provides asset management solutions with the capability of real-time tracking.
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