BusinessWire

OOC Oil & Gas Blockchain Consortium Advances Maturity through New Affiliates

HOUSTON--(BUSINESS WIRE)--The OOC Oil & Gas Blockchain Consortium, was formed in 2019 with ten core Oil & Gas Operators, who have partnered to study and define blockchain use cases across the industry value chain to solve common pain points, increase efficiencies and automate how we interact in business internally as well as externally with suppliers and vendors. The consortium continues to mature its blockchain journey by establishing new affiliate relationships.


These affiliate organizations will help catapult and fortify the consortium’s understanding of the technology and its application, and ultimately ensure delivery of robust guidelines, frameworks, and production-ready solutions to bring near- and long-term value to the industry.

The consortium, focused on creating value for its members, has added Deloitte Risk & Financial Advisory as a strategic advisor. Deloitte will advise on efforts to accelerate the consortium’s two mature projects, Integrated Joint Venture Management and Commodity Haulage, to help enable minimum viable products for initial adoption by member companies. Additionally, Deloitte will help the consortium to define and create a sustainable business network and provide strategic planning for deploying solutions at scale. “The OOC Oil & Gas Blockchain Consortium has successfully undertaken the hardest hurdle of not only forming, but creating immediate proofs of technology, concepts and value through their projects,” said Mike Prokop, risk & financial advisory managing director and blockchain & digital assets leader, Deloitte & Touche LLP. “We plan to help further enrich their business value propositions and accelerate their journey to implementation through our engagement.”

Blockchain continues to evolve and mature and we will need to explore and collaborate not only within our own industry but all industry verticals to solve challenges and provide a comprehensive value proposition,” said Rebecca Hofmann, chairman of the OOC Oil & Gas Blockchain Consortium. “These new affiliates will greatly accelerate our learnings and mature our consortium’s capabilities."

The consortium has also partnered with the Blockchain Research Institute (BRI), which seeks to gather top global researchers to undertake ground-breaking research on blockchain technology. The BRI will provide training avenues for consortium members to understand impacts to various business areas, including IT, finance, legal and supply chain. “We are eager to advance our understanding and harness the potential blockchain can bring to the energy industry through catalyst organizations like the BRI,” said JD Franke, vice-chairman of the OOC Oil & Gas Blockchain Consortium.

Blockchain is poised to transform every industry by redefining the way we transact online, share ideas and manage workflows revitalizing the way business is being done. Yet all of this cannot be done without proper introduction to the technology and its capability, and therefore this association will further advance both organizations’ objectives to adopt and adapt to blockchain capabilities,” said Don Tapscott, Co-Founder of the Blockchain Research Institute and co-author of the best-seller Blockchain Revolution.

About OOC Oil & Gas Blockchain Consortium

The OOC Oil & Gas Blockchain Consortium was founded to advance industry blockchain learnings for the purpose of transforming the way the industry interacts in business externally and to drive industry standards, frameworks and capabilities around emerging blockchain technology. The consortium was established under the not-for-profit organization Offshore Operators Committee and offers membership-based participation. For more information, visit www.oocblockchain.com.

About Deloitte Advisory

Please see www.deloitte.com/us/about for a detailed description of our legal structure.

About Blockchain Research Institute

The Blockchain Research Institute (BRI) is an independent, global think-tank dedicated to inspiring and preparing private- and public-sector leaders to be the catalysts of the blockchain transformation. Funded by international corporations and government agencies, the BRI brings together the world’s leading thinkers to undertake ground-breaking research on the strategic implications of blockchain technology, producing practical insights to help its member organizations succeed.


Contacts

Elizabeth Hogle
media@oocblockchain.com