Diamond Offshore introduces Blockchain Drilling service
Diamond Offshore Drilling Inc. has launched the first application of blockchain technology in the offshore drilling industry.
This service is said to drive efficiencies and enable oil and gas operators to reduce their total cost of ownership (TCO).
Its Blockchain Drilling service provides an immutable platform for the optimization of well construction activities, including drilling-related services, materiel and the supply chain, both shore-based and offshore. Users can access and analyze performance from any web accessible device for near real-time TCO management.
The cloud-based platform is scalable, and the baseline system consists of five modules that are claimed to drive efficiencies and eliminate waste:
- 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.
Configurable modules can be adapted on the platform for individual well or multi-well campaigns based on customer needs.
The platform will be used in the procurement stage through the construction, completion, and production phases. Tracking, planning, and optimizing the well(s) through each phase, the company said, provides the ability to reduce spend, eliminate waste, improve processes, and better align all parties needed to deliver a well successfully.
Developed in partnership with Data Gumbo Corp., the Blockchain Drilling service will be implemented fleet-wide on Diamond Offshore drilling rigs, creating the industry’s first Blockchain Ready Rig fleet.
Andrew Bruce, president and CEO of Data Gumbo Corp., 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.”
Marc Edwards, president and CEO of Diamond Offshore, added: “The Blockchain Drilling platform provides our customers with an economical, scalable foundation for building blockchain applications to optimize their projects while reducing TCO.”