The oil & gas industry continues to be a hotbed of patent innovation. Activity is driven by the growing need for cost-effective and safe drilling operations, and the growing importance of technologies such as artificial intelligence (AI), Internet of Things (IoT), 3D printing, and big data. In the last three years alone, there have been over 327,000 patents filed and granted in the oil & gas industry, according to GlobalData’s report on Innovation in oil & gas: automated drilling tools. Buy the report here.
Smarter leaders trust GlobalData
However, not all innovations are equal and nor do they follow a constant upward trend. Instead, their evolution takes the form of an S-shaped curve that reflects their typical lifecycle from early emergence to accelerating adoption, before finally stabilizing and reaching maturity.
Identifying where a particular innovation is on this journey, especially those that are in the emerging and accelerating stages, is essential for understanding their current level of adoption and the likely future trajectory and impact they will have.
65+ innovations will shape the oil & gas industry
According to GlobalData’s Technology Foresights, which plots the S-curve for the oil & gas industry using innovation intensity models built on over 201,000 patents, there are 65+ innovation areas that will shape the future of the industry.
Within the emerging innovation stage, gas pipeline network monitoring, high-pressure gas vessels, and boil-off gas treatment are disruptive technologies that are in the early stages of application and should be tracked closely. Hydrocarbon lubricants, CO2 electroreduction and oil well surveillance are some of the accelerating innovation areas, where adoption has been steadily increasing. Among maturing innovation areas are syngas production and gas scrubbing, which are now well established in the industry.
Innovation S-curve for the oil & gas industry
Automated drilling tools is a key innovation area in oil & gas
Automated drilling tools refer to the use of advanced technology to automate the drilling process, ultimately improving drilling efficiency and accuracy, reducing human error, and improving safety.
GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies. According to GlobalData, there are 100+ companies, spanning technology vendors, established oil & gas companies, and up-and-coming start-ups engaged in the development and application of automated drilling tools.
Key players in automated drilling tools – a disruptive innovation in the oil & gas industry
‘Application diversity’ measures the number of applications identified for each patent. It broadly splits companies into either ‘niche’ or ‘diversified’ innovators.
‘Geographic reach’ refers to the number of countries each patent is registered in. It reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’.
Patent volumes related to automated drilling tools
Source: GlobalData Patent Analytics
Halliburton is one of the leading patent filers in automated drilling tools. It uses advanced automation solutions such as LOGIX® Autonomous Drilling Platform, iStar® Intelligent Drilling and Logging Platform, iCruise X™ Intelligent Rotary Steerable System and iCruise® Intelligent Rotary Steerable System for increasing performance and efficiency and reducing operational costs and risks. Some other key patent filers in the space include Schlumberger and Baker Hughes.
In terms of application diversity, Halliburton leads the pack, while Schlumberger and Baker Hughes stood in the second and third positions, respectively. By means of geographic reach, Weatherford International held the top positions, followed by Merlin Technology and Rio Tinto.
The advances in drilling tools automation continue to gain momentum as more and more companies are embracing automation to optimize their drilling performance and maximize production.
To further understand the key themes and technologies disrupting the oil & gas industry, access GlobalData’s latest thematic research report on Oil & Gas.
Data Insights
From
The gold standard of business intelligence.
Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.
GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
