In industry first, Diamond Offshore launches blockchain drilling service

Diamond Offshore Drilling, Inc. has launched a Blockchain Drilling service, the first application of blockchain technology in the offshore drilling industry.

The company's 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, the company said. Users can access and analyze performance from any web accessible device for near real-time TCO management.

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 wells through each phase provides the ability to reduce spend, eliminate waste, improve processes and better align all parties needed to deliver a well successfully, said Diamond Offshore, which is owned 53 per cent by Loews Corporation.

Developed in partnership with Houston-based Data Gumbo Corporation, the Blockchain Drilling service will be implemented fleet-wide on Diamond Offshore drilling rigs, creating the industry's first Blockchain Ready Rig fleet.

The cloud-based Blockchain Drilling platform is scalable and the baseline system consists of five modules:

• 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

"The Blockchain Drilling platform provides our customers with an economical, scalable foundation for building blockchain applications to optimize their projects while reducing [total cost of ownership]," Marc Edwards, president and CEO of Diamond Offshore, said in a statement.

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