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May 20, 2022updated 16 May 2022 9:37am

Machine learning 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 machine learning 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 68 in the three months ending March – down from 70 over the same period in 2021.

Figures for patent grants related to followed a similar pattern to filings – shrinking from seven in the three months ending March 2021 to five 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.

Machine learning 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.

Halliburton 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 33 related patents in the three months ending March. That was down from 34 over the same period in 2021.

It was followed by the US-based Schlumberger with 19 patent applications, the US-based Honeywell International (9 applications), and Saudi Arabia-based Saudi Arabian Oil Co (9 applications).

Schlumberger has recently ramped up R&D in . It saw growth of 5.3% in related patent applications in the three months ending March 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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