Wildcat Petroleum partners with Crown Energy to explore blockchain use
Mon, 19th Apr 2021 14:46
(Alliance News) - Wildcat Petroleum PLC on Monday announced it had signed an agreement with Crown Energy AB to explore the use of blockchain technology in the oil and gas sector.
Wildcat, a firm targeting investment opportunities within the upstream sector of the petroleum industry, said it had signed a memorandum of understanding with Crown Energy for its potential participation in any future Initial coin offering that Wildcat launch. Stockholm-listed Crown Energy specialises in oil and gas exploration in Africa and the Middle East.
London-headquartered Wildcat is working on a "proprietary and innovative model to monetise hydrocarbon blocks based on blockchain technology". The model is in development and will be launched by 2022, it said.