The present invention generally relates to a system and method creating secure data in a gas and oil supply chain. The system creates secure data related to oil and gas assets while traversing an oil and gas supply chain. At least one repository system(s), which collects secure data generated by capturing information using a secure observer device, sends the secure data to a gateway which is a part of a global management system or an integrity management system to create clustered events. The disclosure also relates to a system and method for managing and controlling data between entities in an oil and gas asset supply chain, and in particular to an excise tax management system and method to identify and reconcile tax filings, production volumes and operational reports.