ConocoPhillips had ten patents in future of work during Q4 2023. The patent describes a system and method for cloning equation-oriented models of a system for parallel simulation, allowing for quick optimization under different conditions. It enables real-time optimization and prediction of system output, as well as offline simulations for troubleshooting and performance prediction. GlobalData’s report on ConocoPhillips gives a 360-degreee view of the company including its patenting strategy. Buy the report here.
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ConocoPhillips grant share with future of work as a theme is 50% in Q4 2023. Grant share is based on the ratio of number of grants to total number of patents.
Recent Patents
Application: Systems and methods for multi-period optimization forecasting with parallel equation-oriented models (Patent ID: US20230375990A1)
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The patent filed by ConocoPhillips describes a system and method for using a scripting technique to clone equation-oriented models of a system for parallel simulation, allowing for quick optimization of solutions under different operating conditions. The cloned models can provide real-time optimization and prediction tools for system output, aiding in performance monitoring and troubleshooting potential issues. The method involves generating multiple cloned models, applying different input sets to them, and simulating them in parallel to predict system performance accurately.
The patent claims detail a method for generating performance predictions of a processing plant by creating equation-oriented models, automatically cloning them, and applying various input sets to optimize system controls. The system includes controllable components and can provide control recommendations based on input values. Additionally, the method involves receiving plant data, manipulating it based on thresholds, and generating reports for performance predictions. The system also includes model constraint information for optimization and can simulate models for a specified time period, particularly beneficial for liquefied natural gas facilities.
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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. 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.
