Who are the leading innovators in wellbore drilling optimisation for the oil and gas industry?
In the last three years alone, there have been over 534,000 patents filed and granted in the oil and gas industry.
According to GlobalData’s Technology Foresights, which uses over 256,000 patents to analyse innovation intensity for the oil and gas industry, there are 40+ innovation areas that will shape the future. Wellbore drilling optimisation generally involves reducing drilling cost, improving drill bit’s rotation speed for improving drill rate and optimising bit weight.
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 more than 60 companies, spanning technology vendors, established oil and gas companies and up-and-coming start-ups engaged in the development and application of wellbore drilling optimisation.
Schlumberger, a leading patent filer, has a partnership with AVEVA to offer solutions that integrate cloud, IoT (internet of things) and AI-based solutions for companies involved in oil and gas production. The partnership helps to combine cloud and IoT capabilities of both companies integrating DELFI, AVEVA PI System and Schlumberger's Agora edge AI and IoT solutions to process well data and improve efficiency and performance.
Wellbore drilling optimisation through IoT will potentially become the favoured approach by many oil and gas companies. Use of IoT helps to generate data-driven insights in real-time to optimise wellbore drilling. Companies are looking to automate as many processes as possible to mitigate operational risks as well as labour risks, potentially leading to cost savings in the long term.