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Can Putting Blockchain on Drilling Rigs Really Get Everyone on the Same Screen?

Source: Diamond Offshore.

When Diamond Offshore Drilling announced that it will be equipping its offshore drilling rigs with blockchain, the calls started coming.

“I was shocked by the response on the first 4 days,” said Harris Reynolds, manager for research and development for Diamond Offshore. The reaction exceeded anything he had seen in more than 3 decades of product development.

The level of interest was surprising in an industry where customers are normally wary of new things until totally proven. Blockchain for drilling is an industry-first based on technology from outside the oil and gas industry that has never been field-tested, and will be valuable only if it disrupts how things are done.

The last point actually may be a positive. The hope is that blockchain can open the door to significant cost reductions by putting everyone on the same screen. The software created in partnership with a pioneer in that field, Data Gumbo, creates a common view of the plan, predicted costs, progress, and performance of everyone working in an offshore project, among many things.

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Can Putting Blockchain on Drilling Rigs Really Get Everyone on the Same Screen?

Stephen Rassenfoss, Emerging Technology Senior Editor

01 September 2018

Volume: 70 | Issue: 9

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