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April 5, 2022

Offshore industry companies are increasingly innovating in cloud

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

By Data Journalism Team

Research and innovation in cloud in the offshore oil and gas industry operations and technologies sector is on the rise. The most recent figures show that the number of related patent applications in the industry stood at 33 in the three months ending February – up from 24 over the same period in 2021.

Figures for patent grants related to followed a different pattern to filings – shrinking from 19 in the three months ending February 2021 to 10 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.

Cloud 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 60 related patents in the three months ending February. That was up from 24 over the same period in 2021.

It was followed by the Sweden-based Atlas Copco with 10 patent applications, the US-based Schlumberger (3 applications), and the US-based 3M (2 applications).

Honeywell International has recently ramped up R&D in cloud. It saw growth of 60% in related patent applications in the three months ending February 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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