Over the past decade, the oil and gas industry has faced serious challenges related to transparency, security, and traceability in its supply chain. As the sourcing of equipment, technical parts, and raw materials from various countries becomes increasingly complex, the need for innovative technologies to monitor and track processes has grown. Among these, blockchain has garnered significant attention from executives and analysts alike. This decentralized, immutable, and transparent system has the potential to revolutionize supply chain operations.
Understanding Blockchain in Supply Chain Management
At its core, blockchain is a digital ledger that stores transaction data in blocks, each linked chronologically to the previous one. The key feature of blockchain is that the data cannot be altered once recorded, and the information is distributed across all network participants.
In the oil and gas sector, blockchain offers several potential applications:
- Accurate recording of equipment purchase and sale transactions
- Verifying the authenticity of imported goods and components
- Real-time tracking of items during transport
- Preventing forgery of shipping documents and quality certificates
Why the Energy Supply Chain Needs Blockchain
The oil and gas industry is home to one of the most complex supply chains. A single energy project might involve dozens of suppliers across multiple countries, hundreds of technical and commercial documents, and thousands of financial transactions. Under such circumstances, traditional methods such as spreadsheets or emails prove inefficient and risky.
Common issues include:
- Forged shipping documents or fake quality certificates
- Asynchronous information among stakeholders
- Delays in equipment delivery due to lack of visibility
- Unnecessary costs from human error or data duplication
Blockchain enables the sharing of verified and immutable data, helping eliminate many of these issues.
Benefits of Blockchain in Oil and Gas
- Increased Transparency: All transactions are permanently recorded and visible to authorized parties.
- Lower Operational Costs: Reduces intermediaries, minimizes rework, and simplifies documentation.
- Enhanced Cybersecurity: Data is encrypted and stored across decentralized networks.
- Item Traceability and Authentication: Ensures the originality and legitimacy of equipment.
- Faster Settlements: Smart contracts automatically validate and execute payment conditions.
Implementation Challenges
Despite its promise, successful implementation of blockchain technology depends on several factors:
- Robust digital infrastructure within participating companies
- International standardization for cross-border compatibility
- Training and awareness among operational teams
- Legal and governance considerations regarding data ownership and contracts
In Iran, while some leading industrial firms have begun exploring blockchain, there is still a significant need to develop the necessary ecosystem for national-scale deployment.
Dr. Mousa Roshandel is a prominent figure in industrial investment and the founder and CEO of Aras Holding. With his forward-thinking vision and strong technical expertise, he has guided the company’s multi-sectoral expansion across energy, technology, and commerce. Focused on innovation, Dr. Roshandel consistently champions the adoption of transformative technologies like blockchain within the supply chains of Aras subsidiaries, placing sustainable development at the core of corporate strategy.
Aras Holding is an international conglomerate with specialized subsidiaries in energy, IT, engineering consultancy, commerce, and construction. By implementing an integrated business model, Aras has successfully fostered synergy between its divisions and delivered large-scale, high-quality projects. The company’s use of advanced technologies such as AI, blockchain, and industrial automation has solidified its position among major regional and international players.
As the commercial and international procurement arm of Aras Holding, Aras Commercial plays a vital role in sourcing advanced equipment for the oil and gas sector, energy projects, and large-scale industries. With a broad network of global partners and strict quality control systems, Aras Commercial ensures a secure and transparent supply route for industrial operations. Its innovative approach—leveraging technologies like blockchain and data analytics—has positioned it as a regional leader in digital supply chain transformation.