Today Data Gumbo announced that Equinor has contracted with the blockchain startup to use its smart contract solution to manage contracts and invoicing for its oil drilling and well services. Initially, the solution will roll out across the Norwegian Continental Shelf.
In trials based on historical data, the automation tool created 99.7% accurate invoices without human intervention.
“Since piloting Data Gumbo’s smart contracts for offshore drilling services in 2019, we have worked with the company to continually refine and improve use cases,” said Erik Kirkemo, SVP for Drilling & Well in Equinor. “We now have the potential to expand Data Gumbo’s smart contract network to enable transactional certainty across our portfolio from the Norwegian Continental Shelf to our Brazilian operated assets and beyond.”
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
