The oil industry is in a period of transition during which companies, professionals, governments and academic institutions await what may be a new cycle in oil prices or a complete change in market dynamics due to policies, technologies and CO2 emission regulations. More often, innovation has come up as a common topic either because of process optimization, cost reduction or for disruptive solutions. The industry’s production flow segments (upstream, midstream and downstream) projects and product lifecycles have specific technology demands, which compared to other markets, are conservative and slow to innovate and where success is measured in the number of patents.