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Designing a Model of Smart Contracts That Can Be Implemented on The Blockchain Platform to Secure Oil And Gas Transactions
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Mohsen Mohammadi1   , Vahid Mahmoodi *2 , Mohammad reza Poor ebrahimi1 , Ezzatollah Abbasian1 |
1- Tehran University & Tehran University
2- Tehran University & Tehran University , vmahmoodi@ut.ac.ir |
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Abstract: (15 Views) |
The oil and gas industry, as one of the most vital sectors of the economy, faces numerous challenges in implementing international contracts due to legal, technical, and financial complexities. These challenges include lack of transparency, weak measurement infrastructures, delays in settlements, banking sanctions, cybersecurity risks, and increasing disputes between contracting parties. Such issues highlight the necessity of adopting emerging technologies such as blockchain and smart contracts. The main problem addressed in this study is the absence of a comprehensive and applicable model for utilizing smart contracts to secure and optimize gas transactions. The purpose of this research is to design an executable smart contract model based on blockchain in order to enhance the security, transparency, and efficiency of oil and gas transactions. Employing an interpretive paradigm and a qualitative methodology, the study collected data through semi-structured interviews with 13 experts in the fields of energy, law, and blockchain technology, and analyzed the data using the Attride-Stirling thematic network method. The findings indicate that gas contracts in their current state face multi-dimensional technical, legal, economic, and managerial challenges. Data analysis resulted in identifying 33 basic themes, six organizing themes, and one global theme that together form the dimensions of the proposed model. The final model encompasses technical requirements (permissioned blockchain, multi-source oracles, digital identity), legal requirements (new regulatory frameworks and contractual addenda), financial requirements (stable-token settlement), and managerial requirements (training, pilot implementation, joint committees). The results demonstrate that deploying smart contracts can significantly reduce contractual disputes, delays, and administrative costs while improving transparency, security, and trust between parties in gas transactions.
JEL Classification: J22, R5, Q41, M12.
Keywords: Smart contract; Blockchain; Oil and gas transactions; Transaction security; Thematic network.
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| Keywords: JEL Classification: J22, R5, Q41, M12.
Smart contract, Blockchain, Oil and gas transactions, Transaction security, Thematic network. |
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Full-Text [PDF 1563 kb]
(22 Downloads)
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Type of Study: Thesis(PhD.) |
Subject:
Contracts
Received: 2026/01/22 | Accepted: 2026/04/14 | Published: 2026/10/2 | ePublished: 2026/10/2
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