Currently used mud pulse telemetry technology has some drawbacks which limit the economic viability and feasibility of extended reach wells construction. Wired drill pipe technology as a means to transmit downhole data is being considered. The thesis focuses on economic feasibility assessment of wired drill pipes application for extended reach drilling through time and cost analysis. The main project partner is OMV. The project has three advisors: Antony Martin (OMV), Prof. Gerhard Thonhauser (Montanuniversität Leoben), Prof. Aleksandr Oganov (Gubkin University). History of wired drill pipe technologies is provided in chapter 2. The next chapter describes WDP enabled benefits in macro-areas of drilling, formation evaluation, production, and power supply. After that, two commercial wired drill pipe systems – IntelliServ and Powerline Drillstring – are highlighted. Two extended reach wells are considered in the case study. Time savings resulted from implementation of wired drill pipe telemetry are calculated first. Then cost analysis of wired drill pipes utilization is conducted taking into account wired drill pipe related operational and capital expenditures and cost savings resulted from time savings. Finally, the author concludes whether wired drill pipe technology can make extended reach drilling more economically viable.