DISTRIBUTED LEDGER IN OIL AND GAS CUSTODY TRANSFERS

Systems and methods for conducting hydrocarbon custody transfer uses blockchain to eliminate or minimize mistrust over the reliability, accuracy, and immutability of data. The blockchain is provided as a shared data layer that can store the data in a secure and tamperproof manner. The data may inclu...

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Hauptverfasser:	JOHNSON, Alexander Park, BHATTIPROLU, Subha Lalitha, LINSCOTT, Richard Linwood
Format:	Patent
Sprache:	eng
Schlagworte:	CALCULATING COMPUTING COUNTING DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES EARTH DRILLING EARTH DRILLING, e.g. DEEP DRILLING ELECTRIC COMMUNICATION TECHNIQUE ELECTRIC DIGITAL DATA PROCESSING ELECTRICITY FIXED CONSTRUCTIONS INVESTIGATING OR ANALYSING MATERIALS BY DETERMINING THEIRCHEMICAL OR PHYSICAL PROPERTIES MEASURING MINING OBTAINING OIL, GAS, WATER, SOLUBLE OR MELTABLE MATERIALS OR ASLURRY OF MINERALS FROM WELLS PHYSICS SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR TESTING TRANSMISSION OF DIGITAL INFORMATION, e.g. TELEGRAPHICCOMMUNICATION
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Beschreibung
Zusammenfassung:	Systems and methods for conducting hydrocarbon custody transfer uses blockchain to eliminate or minimize mistrust over the reliability, accuracy, and immutability of data. The blockchain is provided as a shared data layer that can store the data in a secure and tamperproof manner. The data may include data generated by equipment, sensors, people, processes, and the like, and may be automatically generated or compiled manually. A blockchain application digitally signs the data using public/private key encryption before uploading the data to the blockchain. The data can then be made available to all authorized custody transfer parties, including oil producers, well operators, regulatory teams, and the like, in the form of notifications, shared dashboards, and/or auto reports. Smart contracts may be embedded in the blockchain to carry out monetary settlements and value exchange by automating funds transfer if certain criteria are met.