The global oil & gas industry experienced a 39% decline in the number of artificial intelligence-related patent applications in Q3 2023 compared with the previous quarter. The total number of artificial intelligence-related grants dropped by 24% in Q3 2023, according to GlobalData’s Patent Analytics. GlobalData’s databook Oil & Gas: Patents Trends Q3 2023 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.
Notably, the number of artificial intelligence-related patent applications in the oil & gas industry was 284 in Q3 2023, versus 465 in the prior quarter.
The top five companies accounted for 46% of patenting activity
Analysis of patenting activity by companies shows that Saudi Arabian Oil filed the most artificial intelligence patents within the oil & gas industry in Q3 2023. The company filed 32 artificial intelligence-related patents in the quarter, compared with 40 in the previous quarter. It was followed by Schlumberger with 31 artificial intelligence patent filings, Halliburton (26 filings), and China National Petroleum (21 filings) in Q3 2023.
Patenting activity was driven by the US with a 36% share of total patent filings
The largest share of artificial intelligence related patent filings in the oil & gas industry in Q3 2023 was in the US with 36%, followed by China (28%) and the UK (3%). The share represented by the US was 3% higher than the 33% share it accounted for in Q2 2023.
For further understanding of GlobalData's Oil & Gas: Patents Trends Q3 2023, buy the databook here.