The Blockchain drilling service of diamond offshore drilling was announced today the 25th of June 2018 by the company which is a drilling industry offshore. The drilling service launched happens to be Blockchain technology being applied for the first time. This service propels efficiency and gives oil and gas operators the necessary support they need to minimize their overall cost of ownership.
Furthermore, the Blockchain drilling service of the company offers a platform not susceptible to change or variation. The platform being solely created for optimizing several drilling services including the construction of wells material as well as the supply chain, both of which are off shore and shore based.
The users also benefit from this due to the ease of access and analysis granted them to the performance. This access and analysis is made possible through any web accessible device made for TCO management that's near real time.
What Is Diamond Offshore Blockchain Drilling Platform?
The Blockchain drilling platform further possesses additional features which includes the fact that it's cloud based and scalable. The system which provides for the standard by which things are done comprises of five modules which promotes efficiency whilst doing away with waste:
- Manager in charge of supplying logistics and chain: This makes available transparency, immutability and provenance which cuts across the totality of the supply chain.
- Spend Monitor: produces an aggregate of the costs for the overall well construction versus the available budget.
- Well planner: showcases real data which is compared to planned time to depth data accompanied by detailed events
- Dynamic Critical Path: publicly exhibits real time bottle necks all through their development
- Performance Tracker: Solely keeps a tab on operational KPIs (Key Performance Indicators)
Based on the needs of customers, modules that are easily configurable can be adapted on the platform of the Blockchain Drilling for individual well or a collection of well campaigns. The platform will be utilized in the stage of procuring through the phases of construction, completion and lastly production.
Each phase comes with the need to track, plan and optimize the wells. This invariably creates the ability to minimize spend, enhance processes, and lastly put together all necessary parties to aid in the successful delivery of a well.
The Blockchain Drilling service being developed hand in hand with Data Gumbo Corporation will thus be executed fleet wide on the drilling rig of Diamond Offshore. This would lead to the creation of the Blockchain ready rig fleet. The first of its kind.
Who Is Behind The Diamond Offshore Project?
Data Gumbos corporation CEO and president Andrew Bruce went ahead to expressly state how excited they are to be in partnership with Diamond Offshore in applying as a service solution, the industrial Blockchain. This he made clear is to grant support to the Blockchain drilling platform which is first of its kind
Marc Edwards on his part being Diamond Offshore president and CEO shared his view by stating that the Drilling platform for Blockchain offers customers scalable foundation that's economical and can aid in the development of Blockchain applications. This he said would optimize their projects and invariably reduce TCO. Furthermore, Marc made known that the execution of this project together with innovations lately launched, Diamond is going the extra mile to demonstrate their thought leadership centered in the drilling market for offshore services.
About Diamond Offshore
Diamond Offshore is a front liner when it comes to offshore drilling and making available to the energy industries worldwide contract drilling services. To know better about the company and its SEC filings, they are provided at diamondoffshore.com.
More so, Diamond Offshore is owned majorly by Loews Corporation to the percentage of 53%
About Data Gumbo
Data Gumbo primarily makes available to industry, a Blockchain as a service (Baas). Its headquarters is situated in Houston Texas and its offices are in Stavanger, Norway.