Distributed ledger in oil and gas custody transfers
AssigneeSchneider Electric Systems USA, Inc.
InventorsSubha Lalitha Bhattiprolu, Richard Linwood Linscott, Alexander Park Johnson
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AssigneeSchneider Electric Systems USA, Inc.
InventorsSubha Lalitha Bhattiprolu, Richard Linwood Linscott, Alexander Park Johnson
Estimating the term…
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.
A system for tamper-proof publishing of hydrocarbon data in oil and gas custody transfers, comprising:
A method of tamper-proof publishing of hydrocarbon data in oil and gas custody transfers, comprising:
A non-transitory computer-readable medium containing computer-readable instructions that, when executed by operation of a controller, cause the controller to:
Dependencies are inferred from the claim text.