Blockchain and IoTs Based Solution for Oilfield Transaction Automation
Ondiflo leverages sensor data to fully automate the Procure-to-Pay process for fluid hauling and deliver legally enforceable automation via Blockchain.
”Ondiflo drastically transforms how an oilfield transaction is managed from a clunky, paper based, costing both the producer and the suppliers millions of dollars to process, to something as simple as swiping a credit card to fill up one’s tank at the gas station”
Balaji Ramakrishnan - Head of Procurement
Ondiflo is the only player in the Oil and Gas industry to offer a working solution that automates P2P/O2C-associated water hauling processes by leveraging Blockchain and IoT.
55,000 live transactions processed.
Check out our success story with BP
Ondiflo: Value Proposition
Accurate Tracking From Load to Discharge
Real time sharing of transaction record | Automate reconciliation, reduce dispute | Improve buyer-supplier relationship
Increase Operational + Back-Office Efficiency
Reduce cost of services | Easy reporting and auditing | Better cash flow forecast and capital allocation
Improve Assets Utilization + People Tracking
Better health & safety and regulation compliance | Reduce CO2 footprint, reduce risk of spills
Integrated Trade Finance
Improve cash flow and profitability for suppliers | Allow SMEs to stay in the game
“Ondiflo will bring to the industry a platform, where all operators and service companies can benefit from digitization, automation and the seamless exchange of data and immutability of their records. Ondiflo will deliver maximum efficiency to processes, which today are still largely manual and paper-based like field ticketing or bill of lading. It is anticipated that billions of dollars of cost savings will be achieved by the industry through the Ondiflo platform.”
Joe Lubin, Ethereum Co-Founder, ConsenSys Founder, Ondiflo Board Member
Ondiflo: A Reality + A Paradigm Shift, Not Another e-Field Ticketing Solution
End-to-end integration from the field to the back-office
All participants get access to the same data at the same time
99% of the field tickets are automatically approved
Payment approval is based on proof of service delivered
Service and payment can be completed in few days maybe even the same day
Proven Value to Oil and Gas Operators and Their Suppliers
BPx Energy's utilization of the Ondilfo platform has generated value
for Oil and Gas operators and their suppliers.
Trust in Suppliers - Faster Service - Increased compliance - Full automation
Scheduling / Fleet Optimization - Reduction in Revenue Leakage - DSO Reduction (Time to Invoice) - Improved Working Capital - Better HSE - Driver Adoption - Driver Retention
Ondiflo: The Technology
Ondiflo has built a layer of privacy around Ethereum to build a private Blockchain for operators and suppliers in the Oil and Gas industry, so the entire ecosystem can benefit from the functionalities Blockchain technology offers (transparency, security) to transact seamlessly with one another.
A single immutable ledger replicated on each instance
A private permissioned Blockchain leveraging Ethereum with Proof of Authority (PoA)
A flexible enterprise governance mechanism for validation of blocks
A suite of security services enabling obfuscation of transactions