INNOVATIVE BREAKTHROUGH OF BLOCKCHAIN TECHNOLOGY IN OIL AND GAS INDUSTRY

The main goal of the research is to assess the potential of using an innovative blockchain technology in the oil and gas industry in Russia, to increase the competitiveness of Russian companies in the international arena, and to contribute to development of a successful partnership between the state and business. In the age of research and development, technologies evolve to such an extent that new ideas, as soon as they emerge, instantly become obsolete and evaporate in a flash. What are the most advanced of the latest technologies, which the whole world is watching for today. The application of innovative technologies is the main benefit of any industry that is open for their use. Industrial complexes in the field of oil and gas extraction monitor closely the situation of developing new technologies. However, the fact that the oil and gas industries are of global importance, these industries are old-fashioned activities that do not hurry to apply new technologies. Considering the number of daily processes occurring in the natural resources sector, we need to move beyond the usual manner of doing business. Oil and gas companies should introduce a simplified form of document management by using safe technologies. Millions of new technologies can positively or negatively influence the development of the fuel and energy complex. Therefore, the most important thing is to evaluate technologies, analyze their suitability for the industry and determine priorities for further opportunities. (C) 2019 Published by Future Academy