Saudi Aramco seeks to boost innovation with more patents: report

State-owned Saudi Aramco is looking to become a top innovator among oil companies, seeking a higher number of patents to boost competitive advantage, Wall Street Journal reported.

Aramco was granted 230 patents last year from the US Patent and Trademark Office, a fourfould increase from 2013, when it earned just 57.

The Saudi oil giant’s most recent patents have included fluids to break rocky oil formations using micro-particles, a docking station for mobile robots deployed in oil fields, as well as techniques to remove carbon from fuels.

Technologies “provide a competitive advantage…whether it’s for one shareholder or several shareholders,” Ahmad Al-Khowaiter, Aramco’s chief technology officer told WSJ.

In the past five years, Aramco has raised the number of scientists in its labs to 1,300 out of a total workforce of about 65,000. It has also opened nine research centers in places like Detroit, Paris and Beijing.

Moreover, the world’s top oil exporter has hired top scientists from oil-services companies Schlumberger Ltd. and Halliburton Co. and French car maker PSA Group.

Earlier in August, Aramco signed two new deals to boost research efforts. It acquired a 50 percent stake owned in Netherlands-based Arlanxeo for $1.74 billion, bringing its total ownership in the Dutch tire-maker to 100 percent.

Aramco also inked a deal with Mazda Motor Corp to develop low-carbon fuels.