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Diamond Offshore announces Industry's first Blockchain Drilling Service



Diamond Offshore Drilling, Inc., a leader in offshore drilling, launched its Blockchain Drilling service. This is the first application of blockchain technology in the offshore drilling industry and oil/gas operators. This service brings advantages of blockchain technologies to improve efficiencies, eliminate waste and reduction in total cost of ownership.

Diamond Offshore Drilling, Inc. provides contract drilling services to the energy industry around the globe. They have a total fleet of 17 offshore drilling rigs, consisting of 13 semisubmersibles and four dynamically positioned drillships as noted on their Diamond Offshore Drilling website.

The Company's Blockchain Drilling service brings an immutable platform for the optimization of well construction activities, including drilling related services, material and the supply chain, both shore-based and offshore. Near real-time TCO management is now possible by allowing users to access and analyse performance using any web accessible device.

This scalable Blockchain Drilling service platform consists of five modules that form its baseline

Supply Chain & Logistics Manager - provides transparency, provenance, and immutability across the entire supply chain
Well Planner - displays actual versus planned time-to-depth data with detailed events
Spend Monitor - aggregates total well construction costs versus budget
Dynamic Critical Path - shows real-time bottlenecks as they develop
Performance Tracker - monitors operational key performance indicators (KPIs)

These configurable modules can be adapted on the Blockchain Drilling platform for the individual well or multi-well campaigns. Blockchain Drilling service platform can be used through the variety of stages such as procurement, completion and production phases. The platform helps to track, plan and optimise the wells in each phase. The overall effect is the reduction in expenditure, waste elimination, improved processes, and align all stakeholders for successful delivery of well, said the announcement.

Blockchain Drilling service is developed in partnership with Data Gumbo Corporation. The plan is fleet-wide deployment on Diamond Offshore drilling rigs. This creates the industry's first Blockchain Ready Rig fleet.

President and CEO of Data Gumbo Corporation, Andrew Bruce said, "Data Gumbo is excited to partner with Diamond Offshore, applying our industrial Blockchain as a Service (BaaS) solution in support of this first-of-its-kind Blockchain Drilling platform."

President and CEO of Diamond Offshore, Marc Edwards said, "The Blockchain Drilling platform provides our customers with an economical, scalable foundation for building blockchain applications to optimize their projects while reducing TCO. With the implementation of this service, together with recently released innovations, Diamond is further demonstrating our thought leadership in the offshore drilling market."

Data Gumbo provides a Blockchain as a Service (BaaS) to the industry. Data Gumbo Corporation is headquartered in Houston, Texas with offices in Stavanger, Norway.



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Mandar Pise Opinions expressed by techsutram contributors are their own. More details

Mandar is a seasoned software professional & Fintech, Cloud, IoT, and Blockchain enthusiast. He writes to benefit others from his experiences. His overall goal is to help people learn about Fintech, Cloud, IoT, AI and Blockchain, and the effects they will have economically and socially in the future.

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