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OilWellCoin ICO Review : OilWellCoin is the first project in the world aimed

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About OilWellCoin 

OilWellCoin is the first project in the world aimed at solving the problem of financing and developing the oil industry on the basis of blockchain technologies. It is created by a group of professionals with more than 40 years of experience in oil exploration, software development, and law. The basis of the project is the OilWell platform, which is created to promote the liberalization and transparency of processes in the oil product market.

Basic Information

Token Name OilWellCoin
Token Symbol OILD
Social Media OilWellCoin ICO Review : OilWellCoin is the first project in the world aimedOilWellCoin ICO Review : OilWellCoin is the first project in the world aimedOilWellCoin ICO Review : OilWellCoin is the first project in the world aimed
Hard cap 50,000,000 USD
Token Price 5 USD
Soft cap 10,000,000 USD
Country United States of America
Whitepaper Click Here For View Whitepaper
Website Click Here For Visit ICO Homepage

Market

The oil market is one of the basic, life-supporting markets. Its level of development largely determines the economic power of the country and its geopolitical role in the world. In the XX century, oil was called “black gold”. Oil is a raw material for the transport, electric power and chemical industries. Road transport is 98% oil dependent. Oil accounts for 36% of the energy absorbed in the world, and produces 9% of the electricity of the entire planet.

Industry

Most of these problems were affected by the crisis of 2009, as a result of which oil production was significantly reduced and the majority of large companies abandoned
research. The past few years have also been quite difficult for the Russian oil sector. This is due to the introduction of sanctions and the subsequent outflow of foreign capital,instability in oil prices and the struggle for the consumer. The sanctions of the European Union and the United States have questioned cooperation agreements in the field of oil and gas exploration and production in offshore and hard-toreach fields between global mining companies and leading Russian companies.

Features

Work

This type of work should be considered as a scientific and production process. Determining patterns of location and conditions of oil occurrence is a scientific task, but the technical production process serves as a means of its implementation. The purpose of geological exploration is to determine the quantitative and qualitative characteristics of the field, as well as assess the natural and economic To date, the exploration of the project’s fields has passed the evaluation stage.

Sale

In addition, the choice of the delivery system is largely influenced by its main advantages and disadvantages (compared to other modes of transport). For example, the main advantage of water transport is the low cost of transportation (compared to road and rail delivery), but this type of transportation is seasonal (only during the navigation period), which is its main drawback. On the territory of North Ossetia.

Project

PROJECT During the development of mineral deposits, including hydrocarbon raw materials (HCS), environmental protection (EP) is an integral and integral part of the project. The project documents planned for development by the OilWellCoin group of companies will take into account environmental protection measures, taking into account its sensitivity,
modifications resulting from economic activities in the work area and determination of the level and degree of environmental impact.

Business model

An important element of the business model of the project is the pre-sale of certificates in the amount of 16,000,000, which further provide a discount of 20% of the market value for each ton of produced oil. In total, with a discount, the OilWellCoin group of companies can sell 16,000,000 barrels of oil, which corresponds to 2,203,856.75 tons. The funds raised from the pre-sale of certificates will be used to implement an oil production project at fields owned by the OilWellCoin group of companies.

Finance

In the process of calculating the financial plan of the project, the OilWellCoin team took into account a number of key performance indicators of the company: Capital and operating costs: the calculation of capital investments was carried out in separate areas, including the cost of purchasing equipment, repair and restoration work, testing of oil-bearing formations in old wells, drilling new wells and industrial equipment.

Team

Member
Alan Kokaev CEO
Magomed Khadisov CFO
Musa Jamalkhanov CPE

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Quote This article is writing on 9 April 2019 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: support@coinworldstory.com Or Whatsapp Us- +13098896258

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