The oil & gas industry continues to be a hotbed of patent innovation. Activity is driven by the need to improve efficiency and safety, and mitigate environmental impacts, and the growing importance of technologies such as artificial intelligence (AI), machine learning (ML), big data, blockchain, and robotics. In the last three years alone, there have been over 327,000 patents filed and granted in the oil & gas industry, according to GlobalData’s report on Artificial intelligence in oil & gas: sub-surface reservoir modeling. Buy the report here.
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According to GlobalData’s Technology Foresights, which uses over 201,000 patents to analyze innovation intensity for the oil & gas industry, there are 65+ innovation areas that will shape the future of the industry.
Sub-surface reservoir modeling is a key innovation area in artificial intelligence
Sub-surface reservoir modeling is the process of creating numerical models that represent the subsurface geology and fluid flow characteristics of oil, gas, or water reservoirs. These models are used to simulate fluid and pressure behavior, optimize well placement, forecast production, and evaluate reservoir performance.
GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies. According to GlobalData, there are 240 companies, spanning technology vendors, established oil & gas companies, and up-and-coming start-ups engaged in the development and application of sub-surface reservoir modeling.
Key players in sub-surface reservoir modeling – a disruptive innovation in the oil & gas industry
‘Application diversity’ measures the number of applications identified for each patent. It broadly splits companies into either ‘niche’ or ‘diversified’ innovators.
‘Geographic reach’ refers to the number of countries each patent is registered in. It reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’.
Patent volumes related to sub-surface reservoir modeling
Source: GlobalData Patent Analytics
Halliburton is one of the leading patent filers in sub-surface reservoir modeling. Halliburton offers AI-driven solutions for reservoir digital twins, iStar® Platform to maximize reservoir contact, and StrataXaminer™ tool for high-resolution images of the reservoir structure. In June 2023, Halliburton acquired Resoptima, a Norwegian company specializing in reservoir data management. The strategic acquisition aims to integrate Resoptima's reservoir modeling and predictive analytics capabilities into Halliburton's existing AI-enabled Landmark DecisionSpace® 365 suite, an Open Subsurface Data Universe platform. Some other key patent filers in the sub-surface reservoir modeling include China Petrochemical, China National Petroleum, Schlumberger, China National Offshore Oil and Saudi Arabian Oil.
In terms of application diversity, Halliburton leads the pack, while Schlumberger and China Petrochemical stood in the second and third positions, respectively. By means of geographic reach, BP held the top position, followed by Suncor Energy and ResFrac.
Sub-surface reservoir modeling is increasingly being used by the players in the oil & gas industry to know reservoir performance, mitigate risks, manage resources, and increase efficiencies in oil and gas extraction.
To further understand the key themes and technologies disrupting the oil & gas industry, access GlobalData’s latest thematic research report on Artificial Intelligence (AI) in Oil and Gas.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. 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.
