Offshore driller Diamond Offshore has announced the launch of a blockchain drilling service, which it claims to be the first application of blockchain technology in the offshore drilling industry.
According to the company, the service provides an immutable platform for the optimisation of well construction activities, including drilling related services, material 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.
Diamond Offshore believes the service will drive efficiencies and enables oil and gas to reduce the total cost of ownership
The cloud-based blockchain drilling platform is scalable and the baseline system consists of five modules including supply chain and logistics manager, well planner, spend monitor, dynamic critical path and performance tracker.
Developed in partnership with Data Gumbo Corporation, the service will be implemented fleet-wide on Diamond Offshore drilling rigs.
“The Blockchain Drilling platform provides our customers with an economical, scalable foundation for building blockchain applications to optimize their projects while reducing TCO,” said Marc Edwards, president and CEO of Diamond Offshore. “With the implementation of this service, together with recently released innovations, Diamond is further demonstrating our thought leadership in the offshore drilling market.”