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June 24, 2022updated 20 Jun 2022 9:55am

Cybersecurity innovation among offshore industry companies has dropped off in the last year

Analysis of patent filings shows a shrinking level of related applications in the industry over the past year

By Data Journalism Team

Research and innovation in cybersecurity in the offshore oil and gas industry operations and technologies sector has declined in the last year.

The most recent figures show that the number of related patent applications in the industry stood at 55 in the three months ending April – down from 78 over the same period in 2021.

Figures for patent grants related to followed a different pattern to filings – growing from 21 in the three months ending April 2021 to 31 in the same period in 2022.

The figures are compiled by GlobalData, which tracks patent filings and grants from official offices around the world. Using textual analysis, as well as official patent classifications, these patents are grouped into key thematic areas and linked to key companies across various industries.

Cybersecurity is one of the key areas tracked by GlobalData. It has been identified as being a key disruptive force facing companies in the coming years, and is one of the areas that companies investing resources in now are expected to reap rewards from. The figures also provide an insight into the largest innovators in the sector.

Honeywell International was the top innovator in the offshore oil and gas industry operations and technologies sector in the latest quarter. The company, which has its headquarters in the US, filed 25 related patents in the three months ending April. That was down from 36 over the same period in 2021.

It was followed by the Saudi Arabia-based Saudi Arabian Oil Co with 19 patent applications, the US-based Halliburton (11 applications), and India-based Reliance Industries (2 applications).

Saudi Arabian Oil Co has recently ramped up R&D in cybersecurity. It saw growth of 10.5% in related patent applications in the three months ending April compared to the same period in 2021 – the highest percentage growth out of all companies tracked with more than 10 quarterly patents in the offshore oil and gas industry operations and technologies sector.

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