Implementing Blockchain Technology in Oil and Gas Industry: A Review

Vikrant Lakhanpal, Robello Samuel
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引用次数: 18

Abstract

The oil and Gas industry has recently transformed itself into a data-intensive industry – artificial intelligence, machine learning and internet of things. With such growth and expansion, distributed ledger technology, commonly known as blockchain, can carry the industry's transformation forward. This technology can help the industry to overcome various challenges such as price volatility, supply chain, accounting, data management and security. It can also help in streamlining various engineering and technical decisions. Technologically, the oil and gas industry has been very innovative – 3-D seismic, hydraulic fracturing, geosteering, imaging beneath salt, etc. However, the administrative and managerial functions are still done in a somewhat traditional way. The Blockchain technology can help the industry become more efficient by streamlining these traditional methodologies. This paper presents the four major areas where the blockchain technology can help the industry overcome various day to day challenges – (1) Supply Chain and Trading, (2) Regulatory, (3) Database Management and (4) Cyber Security. Like any new technology, the blockchain technology might not get a full embrace at the beginning, but the idea is to present a qualitative study about its benefits. The industry currently has little or no knowledge about this technology, which is expected to bring transparency, security and convenience in one place. The objective of this paper is to help the industry peers understand the idea behind this technology and how it can transform the way the industry currently operates. It provides a frame of reference for the industry to realize the potential of this technology and assess its benefits.
区块链技术在油气行业的应用综述
石油和天然气行业最近已经转变为一个数据密集型行业——人工智能、机器学习和物联网。有了这样的增长和扩张,通常被称为区块链的分布式账本技术可以推动行业的转型。这项技术可以帮助行业克服各种挑战,如价格波动、供应链、会计、数据管理和安全。它还可以帮助简化各种工程和技术决策。在技术上,油气行业一直在不断创新——三维地震、水力压裂、地质导向、盐下成像等。然而,行政和管理职能仍然以某种传统的方式完成。区块链技术可以通过简化这些传统方法来帮助行业提高效率。本文介绍了区块链技术可以帮助行业克服各种日常挑战的四个主要领域-(1)供应链和贸易,(2)监管,(3)数据库管理和(4)网络安全。像任何新技术一样,区块链技术在一开始可能不会得到完全的接受,但其想法是对其好处进行定性研究。该行业目前对这项技术知之甚少,甚至一无所知,这项技术有望在一个地方带来透明度、安全性和便利性。本文的目的是帮助业内同行了解这项技术背后的理念,以及它如何改变当前行业的运作方式。它为行业实现该技术的潜力并评估其效益提供了一个参考框架。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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