Offshore Drilling Contractor Diamond Offshore had announced some time back in June 2018 that it had managed to implement ‘first-of-its-kind’ blockchain technology onboard its rig with the aim of reducing the total cost of ownership in offshore drilling, said Mark Edwards, President and CEO of Diamond Offshore. He further said that they had been collecting data onto a Blockchain platform from each of their ultra-deepwater drill ships and are planning to have this capability rolled out to most of their assets by mid-2019 and further emphasized that the blockchain technology was aimed at reducing the total cost of their customers by optimizing the supply chain, reducing paperwork, improving logistics and safety.

Its CEO commented that the Market is currently looking at locking in capacity from 2020 and beyond and expressed optimism and belief that the market had bottomed out based on recent contracts it had secured for their drillships especially on the top end of drilling assets. The company believes that with this recent digital technology, it could further improve on cost base delivering more values and profits for both its customers and itself and indeed this is how an ‘old industry’ player should look into in order to stay afloat amid depressed market, a lesson for all.

escveritasDigital TechnologyEnergyOil & Gasdigital,innovation,technologyOffshore Drilling Contractor Diamond Offshore had announced some time back in June 2018 that it had managed to implement 'first-of-its-kind' blockchain technology onboard its rig with the aim of reducing the total cost of ownership in offshore drilling, said Mark Edwards, President and CEO of Diamond Offshore. He further...