Thousands of new startups are founded every year – emerging companies with the potential to disrupt the oil & gas industry. To give you a head-start on emerging technologies and startups that will impact the oil & gas sector in 2022, we analyzed a total of 712 global oil & gas startups & scaleups. Meet 5 of the most promising startups to watch!
Global Startup Heat Map highlights 5 Oil & Gas Startups to Watch in 2022
Out of 712, the 5 oil & gas startups to watch are chosen through the Big Data & Artificial Intelligence (AI)-powered StartUs Insights Discovery Platform, covering over 2 093 000+ startups & scaleups globally. As the world’s largest resource for data on emerging companies, the SaaS platform enables you to identify relevant startups, emerging technologies & future industry trends quickly & exhaustively.
The Global Startup Heat Map below highlights the 5 oil & gas startups you should watch in 2022 as well as the geo-distribution of the other 707 startups & scaleups we analyzed for this research. We hand-picked the 5 highlighted oil & gas startups based on our data-driven startup scouting approach, taking into account factors such as location, founding year, the relevance of technology, and funding, among others.
Central Element Geosciences facilitates Oil & Gas Exploration
Founding Year: 2020
Location: Zurich, Switzerland
Partner for: Onshore and Offshore Hydrocarbon Identification & Mapping
Swiss startup Central Element Geosciences assists oil & gas companies in exploration, mapping, and discovery. The startup’s proprietary nuclear magnetic resonance (NMR) technology enables remote location identification and mapping of locations of desired materials. On the other hand, conventional methods in the sector utilize manual means such as rock-based mapping, drilling, and seismic surveys that are time- and cost-intensive as well as error-prone. Central Element Geosciences’ solution detects materials at land and sea for up to 6 500km depths. The startup’s remote and automated process saves capital and productive work hours for its customers. In addition, NMR provides higher certainty that improves environmental, social, and corporate governance (ESG) parameters of oil & gas projects.
monitorQA offers a Pipeline Inspection Software
Founding Year: 2020
Location: San Diego, USA
Partner for: Audit Workflow Digitization, Collaborative Inspections
US-based startup monitorQA creates pipeline inspection software for oil & gas companies. The startup’s mobile inspection platform enables inspectors and workers to digitize audits and supports complete customization based on workflows. Paper-based asset inspection creates challenges to track past inspection data and generally lacks flexibility. monitorQA mitigates these issues by offering digital historical data and the records of corrective measures. This enables inspectors and companies to minimize audit errors that lead to downtime. Further, the collaborative design of the startup’s software allows multiple users to work on the same audit to optimize field operations. The software provides full functionality even when offline, allowing pipeline inspectors to work in remote locations.
PipelineSentry provides Subsea Pipeline Digital Twins
PipelineSentry is a Dutch startup that develops digital twins for subsea oil pipelines. The startup combines all available datasets on the asset and finite element analysis (FEA) to generate digital twins. Besides, the process is automated using machine learning (ML). Unlike many other digital twin solutions, this eliminates the need for sensors along the pipeline, in turn, reducing overall costs. PipelineSentry further integrates all the data into the cloud, where it visualizes information and enables predictive analytics. A client-interface portal for users also provides access to this data. As a result, engineering assessments of pipelines are constantly updated whenever new data is available through operational condition changes or surveys. This enables pipeline operators and offshore project managers to monitor asset integrity and fatigue along with corrosion and flow levels.
Atrasim develops a Corrosion Analysis Software
Founding Year: 2020
Location: Vancouver, Canada
Partner for: Corrosion Prevention & Prediction
Canadian startup Atrasim provides corrosion analysis software for the oil & gas sector. The startup’s platform is built on an analytical algorithm that predicts the corrosion rates of alloys. the algorithm uses fundamental electrochemical equations and physicochemical features in the industrial setting to deliver accurate results. It also integrates corrosion mitigation and planning tools to improve decision-making in corrosion prevention and engineering. Hence, Altrasim’s software enables field operators, pipeline engineers, and designers to determine the best location for cathodic protection where protective coatings fail. This further improves the overall structural integrity of assets, extending their end-of-life and ensuring an uninterrupted flow of oil and gas services.
ThinkDeep AI advances X-Ray-based Defect Detection
Founding Year: 2019
Location: Talence, France
Partner for: Non-Destructive Testing (NDT), Visual Inspection
ThinkDeep AI is a French startup that offers X-ray-based defect detection for downstream part manufacturers. The startup’s visual inspection platform combines industrial radiography and AI to spot defects. This is critical to avoid shipping unsafe products that cause substantial losses, harm the ecosystem, and endanger workers. The startup’s algorithms also recognize various flaws such as shrinkage and porosity along with a wide range of materials such as aluminum, magnesium, and nickel. ThinkDeep AI allows quality operators to automate visual inspection. The non-destructive testing technique further eliminates personnel fatigue and potential biases while interpreting anomalies in image-based inspections.
Discover All Emerging Oil & Gas Startups
The oil & gas startups showcased in this report are only a small sample of all startups we identified through our data-driven startup scouting approach. Download our free Oil & Gas Innovation Report for a broad overview of the industry or get in touch for quick & exhaustive research on the latest technologies and emerging solutions that will impact your company in 2022!