Operators, EPCs, and relevant industry stakeholders should increase their level of awareness and understanding of blockchain. As shown in the ongoing pilots, blockchain is being applied to oil trading, well construction, and crude oil extraction in E&P. Mark your calendar today for the 4th Annual Blockchain in Oil & Gas conference and continue the conversation.
The Hype Behind Blockchain Has A Solid Foundation
This was the conclusion drawn by the majority at the 3rd Annual Blockchain in Oil & Gas conference that took place in Houston, TX in September 2019. The event attracted 200+ attendees, 40+ speakers and 25+ sponsors.
In partnership with the Oil and Gas Blockchain Consortium, composed of giants of the industry such as ConocoPhillips, Shell, Equinor, Marathon Oil Corporation, Chevron, Hess, Repsol, Pioneer Natural Resources, Noble Energy and ExxonMobil, the conference explored ways to tap into the transformative properties of blockchain technology, to streamline operations and increase productivity.
For the third year running, the conference hosted the major actors of the Oil and Gas industry seeking to harness the potential of blockchain technology to cut down on operational time and costs, add a new layer of transparency and replace industry legacy systems with an innovative blockchain-based framework.
Evidence points out that blockchain technology can provide viable solutions to the Oil and Gas industry. The fact that giants of the industry are collaborating with the sole purpose of researching and applying proof of concepts indicates that the hype behind blockchain has a solid foundation. Integrating this technology into the oil and gas industry seems like a rational step towards revitalizing this sphere of activity.
The energy sector is one of the foundations of today’s modern society. On the way to greener and more efficient systems, blockchain technology will play a significant role in optimization and cost efficiency boosting of the whole market.
Is the Oil & Gas industry ready for disruption? Absolutely. The development of blockchain technology has gained momentum in the Oil & Gas industry and the Blockchain in Oil & Gas conference has paved the path.
The Oil & Gas industry continues to operate in challenging times with compressed margins, reduced resources and funding and an ever pressing need to find, extract, produce, and refine hydrocarbons more cost effectively.
Location2525 West Loop South, Houston, TX 77027, Houston, Texas
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