Diamond Offshore in blockchain push

Illustration: Image by Davidstankiewicz/Wikimedia – Shared under CC BY-SA 4.0 license

Offshore drilling contractor Diamond Offshore in cooperation with Data Gumbo has launched what it says the first application of blockchain technology in the offshore drilling industry.

Illustration: Image by Davidstankiewicz/Wikimedia

The driller, which owns a fleet of 17 offshore drilling rigs, said on Monday that its services, named Blockchain Drilling, “drives efficiencies and enables oil and gas operators to reduce their total cost of ownership.”

According to Diamond Offshore, Blockchain Drilling service provides “an immutable platform for the optimization 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,” DO said, adding that the cloud-based Blockchain Drilling platform consists of five modules “to drive efficiencies and eliminate waste.”

According to a statement on Monday, the five modules are:

  • 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)

The offshore driller said that configurable modules can be adapted on the Blockchain Drilling 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 provides the ability to reduce spend, eliminate waste, improve processes, and better align all parties needed to deliver a well successfully,” Diamond Offshore said.

Tthe Blockchain Drilling service will be implemented fleet-wide on Diamond Offshore drilling rigs, creating the industry’s first “Blockchain Ready Rig™” fleet.

“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,” said Andrew Bruce, President and CEO of Data Gumbo Corporation.

“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.