Oil and Gas Waste Management on the Blockchain
OILSC’s goal is to move the contracts and supply chains of the world’s largest waste disposal companies, organizations and government agencies (a $5.08 billion market) onto the blockchain. These companies and organizations are the base from which OILSC coins will be transacted. OILSC is supported by major companies and organizations with years of experience in providing full service drilling waste management solutions to post-drilling environmental regulations worldwide.
Increased awareness and legal enforcement of the oil and gas industry’s environmental responsibilities are creating a commensurate need for effective and efficient technologies that help the industry clean the waste products their activities invariably generate.
With their cooperation, Oil and Gas Supply Chain (OILSC) is moving the supply chains and contracts of many of the world’s largest companies, government departments and organisations that specialize in the waste disposal sectors of the Oil and Gas industry onto the block chain. Using bespoke smart contract GUI’s that conform to the current layouts on the Oil and Gas Supply Chain platform we will make this process more time and cost effective and move this process closer to worldwide compliance and a cleaner world.
The Oil and Gas Supply Chain (OILSC) token is designed to be the medium of transaction within a smart contract between the oil and gas company itself and all the drill management and waste disposal service providers. OILSC token will be supported by major companies and organizations with years of experience in providing full services in drilling waste management, solids control and complete ‘backyard’ solutions to required post drilling environmental protection regulations worldwide.
Drill management/solids control/‘backyard’ solutions includes pumping fluid, ‘mud,’ into the well hole to stabilize pressure, reduce friction and to remove drill cuttings. Once topside, the drill cuttings go through a three-stage environmental process to separate the cuttings into manageable waste including removing any naturally occurring radioactive material (NORM) through thermal desorption.
Any residual petrochemicals, up to 20%, are returned to the oil company as part of an Oil and Gas Supply Chain smart contract. Any remaining solid waste is recycled and, also through an Oil and Gas Supply Chain smart contract, can be used in both private and government construction projects, for example asphalt roads, schools, hospitals and housing. The final element is clean water.
This process is well established with blue chip oil and gas operators in compliance with required international health, safety and environmental standards.
Due to the nature of our affiliations/partnerships, the OILSC token, Oil and Gas Supply Chain smart contracts and applications are designed to address the specific issues and challenges within the oil and gas industry. However, we fully believe that these solutions will be adopted as the standard for many Supply Chain needs worldwide.