Will Blockchain Become the New Operational Backbone in Energy? Energy companies are looking to distributed ledger technology—otherwise known as blockchain—to help navigate the complex transactional systems that make up their operations. What is blockchain, and what makes it valuable to our industry? Statoil’s integrated operations center on the Norwegian continental shelf is one of several initiatives operators and service companies have set in motion to improve condition monitoring and maximize production on their assets. The company’s 31 licenses highlight a record-high total awarded during the latest APA round, which is aimed at developing mature areas of the NCS.