Displaying items by tag: FutureOn

FutureOn, the global energy software company, has signed a recurring annual software license agreement with Petoro. The agreement will provide FutureOn’s award-winning FieldTwin Design software for use on strategic field development projects across the Norwegian oil and gas sector on an ongoing basis.

FieldTwin Design – an innovative visualisation and collaboration platform – allows Petoro, a Norwegian state-owned limited company, to work more closely with operators in the early phase evaluation of projects. The software helps Petoro streamline and enhance complex subsea development concepts, which results in reduced risk at project decision points.            

FutureOn’s FieldTwin Design software allows operators to design, create and maintain a digital copy of physical field assets for maximised project value. By connecting disparate data and providing an accurate visual representation of offshore projects in a fully georeferenced environment, operators like Petoro can optimise field development projects design, equipment, field operations, and well production.

Although a relatively new FieldTwin user, Petoro has already capitalized on proven benefits from using FieldTwin Design. The software has proven itself as valuable support to project decisions only a few months after implementation, by improving the company's understanding of scope of work and technical challenges. Petoro quickly experienced closer and better collaboration with operators and partners utilizing digital subsea models.

Pål Roppen, CEO at FutureOn said:

“It is rewarding to receive such positive feedback and results regarding FieldTwin Design’s role in Petoro’s operations so early in our partnership. We are proud that our software is used to streamline operations and enhance productivity, and we look forward to working with Petoro to achieve efficient and data-rich findings.

“Last year, oil and gas production in Norway continued to increase, with this trend expected to continue over the coming years.^[1] We believe that collaboration between companies like FutureOn and Petoro will be crucial in managing energy production while also ensuring a comprehensive local supply chain for the energy transition.”

Britt Bjelland, Senior Technology Advisor at Petoro said:

“We envision FutureOn’s FieldTwin Design to enable optimised area development evaluations and infrastructure, while also reducing the CO2 footprint of projects. We believe the software that FutureOn has developed will assist the digital transformation of the oil and gas industry, reducing asset turnover and project execution time.

“We have already experienced the benefits of interactively sharing project models to various stakeholders, which made the entire process more efficient and collaborative. FutureOn’s software has proven to be valuable for early concept evaluations and in supporting concept decisions, and we look forward to continuing our working relationship with FutureOn.”

About FutureOn

Experts in data visualization, FutureOn emerged from Xvision in 2016 to become a standalone provider of state-of-the-art visual engineering for the global energy sector. The company transforms the performance of complex capital projects with cutting-edge visualization and collaboration technology enabling the energy industry transition to Net Zero.   

FutureOn is proud to offer its global customer base industry-leading software solutions to create digital twins that deliver a complete asset visualization and integrated data model that unlocks value through increased efficiency, improved safety, reduced costs, risk mitigation, lower emissions and increased uptime. 

FutureOn, the global energy software company, has today launched FieldTwin Collaborate – a digital project sharing forum, which offers open communication and engagement, enabling quick adaptability and accountability for teams across the energy sector and supply chain.

More than a data visualisation tool, FieldTwin Collaborate brings multiple contractors together in one space, benefiting operators and project teams by ensuring accessibility, integrity and real-time updates on integrated projects.

The latest addition to the company’s arsenal enables teams to problem solve complex challenges as they appear. The data analysis capabilities, multiple perspectives and the shareability of assets enables enhanced forecasting and troubleshooting for projects.

This means that both operators and engineering, procurement, and construction team members work on the same shared data model while ensuring secure granular access and control of users and data for all.

FieldTwin Collaborate is an optional application which can be added to the company’s award winning FieldTwin software - a cloud-based digital platform which creates and maintains a digital copy of a physical asset, enabling maximum asset performance and value. This technology acts as the foundation for the collaborative visual workflows between multiple stakeholders.

Last year, the Energy Systems Catapult and Offshore Renewable Energy Catapult launched an Offshore Energy Digital and Data Strategy taskforce, with the aim of creating a digital and data strategy spanning oil, gas and renewables. FieldTwin Collaborate is a prime example of digital innovation that will go towards accelerating and embedding technologies and digital solutions across the energy industry.

Jostein Lien, Senior Vice President of Product at FutureOn, commented:

“By establishing a two-way secure connection between stakeholders using the platform, we have enabled a real-time collaboration opportunity. This will be a revolutionary tool for our customers and their stakeholders as they manage projects around the world.

“We are seeing ambitious goals outlined for reductions in personnel on board, emissions related travel and more efficient technology as we progress toward net zero. FieldTwin Collaborate is the perfect project management tool to enable this, and we look forward to rolling it out to our existing and new customers.”

Last year, FutureOn announced a strategic partnership with Kongsberg Digital (KDI), the digital division of the Kongsberg Group, strengthening its position as a leading international digital twin software provider.

To learn more about FieldTwin Collaborate, sign up for our webinar taking place on Tuesday 1 March at 11:00am GMT: https://globuc.com/digitalsolutions/unlock-true-collaboration/

About FutureOn

Experts in data visualization, FutureOn emerged from Xvision in 2016 to become a standalone provider of state-of-the-art visual engineering for the global energy sector. The company transforms the performance of complex capital projects with cutting-edge visualization and collaboration technology enabling the energy industry transition to Net Zero.   

FutureOn is proud to offer its global customer base industry-leading software solutions to create digital twins that deliver a complete asset visualization and integrated data model that unlocks value through increased efficiency, improved safety, reduced costs, risk mitigation, lower emissions and increased uptime. 

FutureOn, the global software company specialising in the energy sector and creator of the award-winning, SaaS field design applications, FieldTwin Design and its API-centric collaboration platform, FieldTwin, has formed a strategic collaboration with global consulting and engineering leader Wood, to provide an enhanced service to its client base of global asset operators.

Wood’s expert technical services specialising in the early field development studies for subsea and ocean-based energy systems, will integrate with FutureOn’s unique field design applications, and proven API-centric collaboration platforms, resulting in significant efficiency gains across the design phase.

Having previously trialled FutureOn’s technology in 2019, the latest agreement will see Wood provide technical and integration services to operators using FutureOn’s software. In addition, the company will offer the software as part of its suite of technical services to new and existing customers across the world.

FutureOn’s open and collaborative approach to field design is based on data-rich 2D and 3D visualisations. The inclusion of metadata on assets and costs will enable reliable early-stage production and financial forecasts. It also provides a real-time visual blueprint of a field development allowing project teams and contractors to collaborate remotely, development of options at pace and a shared project workspace for timely delivery.

Looking to the future, Wood and FutureOn are committed to supporting the world’s major asset operators’ efforts to build a sustainable economic recovery from their existing infrastructure, optimising asset performance and extending productive field life whilst accelerating the move towards net-zero. The agreement will support these initiatives by combining the power of FutureOn’s FieldTwin technology for the streamlined design of renewable energy systems with Wood’s Automated Design product for pipeline systems that address key aspects of the global net-zero challenge.

Darrell Knight, Executive Vice President of Strategy and Partnerships, said:

“Wood has established excellent credentials having become the trusted consulting and engineering partner on the world’s largest and most complex energy projects. It is testament to the transformative impact of our collaborative web-based platform solutions that Wood has chosen to work with FutureOn.

“The collaboration is the perfect fit as we place the same importance on bringing innovation to the fore to solve the most critical challenges, including the improved communication and increased collaboration necessary to achieve the shortest possible path to energy generation, the best returns over the life of any asset, and minimising the impact on the environment. We’re looking forward to building on this collaboration, and bringing this new, integrated solution to our customers to support their goals.”

Matt Kirk, Senior Vice President, Specialist Engineering and Consulting at Wood, said:

“FutureOn is one of the best software solutions companies in the energy sector, and we are delighted to collaborate and serve the dynamic needs of our global client base. Asset operators everywhere are recognising the need to completely transform their existing infrastructure as part of the shift towards a net-zero future. Together, Wood and FutureOn will harness its collective expertise to help them make it happen.  

“The opportunities to influence project economics and optimise the CAPEX on energy developments remains highest at the conceptual and early phases of a project.  This collaboration brings together the smart and efficient field development visualisation delivered with FutureOn’s FieldTwin with the automated design and deep domain expertise from Wood.  This powerful combination will provide faster and more predictable project outcomes for our clients.”

About FutureOn

Experts in data visualization, FutureOn emerged from Xvision in 2016 to become a standalone provider of state-of-the-art visual engineering for the global energy sector. The company transforms the performance of complex capital projects with our cutting-edge visualization technology.   

FutureOn is proud to offer its global customer base industry-leading software solutions to create digital twins that deliver a complete asset visualization and integrated data model that unlocks value through increased efficiency, improved safety, reduced costs, risk mitigation, lower emissions and increased uptime. 

FutureOn technology includes:

FieldTwin Design, a cloud-based digital platform that provides rapid visual workflows for early-stage subsea engineering work. Multiple data streams from geography to bathymetry, topography, existing infrastructure and other physical constraints can be combined with proprietary information such as reservoirs, wells and drilling to create an information-rich 3D visualization of any potential project location.

FieldTwin provides a visual representation of the entire life cycle of a field by creating and maintaining a digital twin — an exact digital copy of an oil and gas company’s physical asset — which enables producers to maximize asset performance and value.

www.futureon.com

FutureOn, the global energy software company, has just announced a strategic partnership with Kongsberg Digital (KDI), the digital division of the Kongsberg Group, strengthening its position as a leading international digital twin software provider.

The partnership will bring together FutureOn’s FieldTwin and KDI’s Kognitwin platforms, supporting a comprehensive approach for designing, building and operating digital twins for energy projects.

Central to the partnership will be a focus on energy transition through the development of digital twins for renewable projects. This will include emerging sectors such as offshore wind, green hydrogen and carbon capture solutions, where many oil and gas operators are seeking solutions as part of diversification strategies.

This new partnership fully complements FutureOn’s existing partnership with Bentley Systems (NASDAQ: BSY) and its iTwin® platform, and positions FutureOn as a leading provider of integrated digital twin technology to the global energy industry.

To support the partnership KDI will invest a total of $4.5M (USD) in a single tranche investment, and join Bentley Systems as a strategic minority investor.

The collaboration with KDI also enhances FutureOn FieldTwin’s ability to integrate with other solutions, positioning it as the digital twin platform of choice for energy companies. This adaptability and compatibility with legacy systems is critical to accelerating the uptake of digital twin technologies.

Earlier this year, Accenture listed digital twins as a top-five technology trend for 2021 and the technology is widely recognised as an enabler for emissions reduction and decarbonisation. This interest has been reflected in FutureOn’s customer success, with more than 15 leading international energy companies now using its digital twin technology, with several more now finalizing their decision to adopt the FieldTwin open API platform as a core component of their digital twin strategy.

(l-r) Pål Roppen, CEO FutureOn AS; Hege Skryseth, EVP Kongsberg Group ASA and President Kongsberg Digital; Geir Håøy, President & CEO, Kongsberg Group ASA.

Pål Roppen, CEO at FutureOn, commented:

“This new strategic partnership and investment from Kongsberg Digital enables us to continue providing streamlined and effective operations for our valued customers.”

“We are excited to bring together the powerful capabilities of KDI’s Kognitwin alongside our already strong partnership with Bentley Systems and its iTwin platform. This positions our award-winning FieldTwin solution as one of the leading integrated digital twin solutions in the global energy industry.”

FutureOn’s goal is to support its customers to achieve their net zero ambitions, using its data-driven, cloud-based platforms. By using FutureOn’s digital solutions, energy companies can gain significant efficiency improvement, create savings across CAPEX and OPEX and reduce the environmental impact of their operations. 

Kongsberg Digital joins Bentley on the FutureOn Board as a strategic minority shareholder.

Hege Skryseth, President of Kongsberg Digital and EVP KONGSBERG commented:

“We are very excited to contribute with our Kognitwin platform and invest in this forward-looking project together with Bentley Systems. By integrating our solutions with FutureOn’s FieldTwin platform, we will support energy innovation at the core and function as a digital accelerator of the energy industry’s shift towards net zero.”

Santanu Das, Chief Acceleration Officer, Bentley Systems said:

“The addition of Kongsberg Digital to our partnership with FutureOn is very promising. Over the past year, FutureOn has made significant progress leveraging our open iTwin® platform to accelerate FieldTwin solution development for offshore energy and renewables projects. We look forward to collaborating with both FutureOn and Kongsberg Digital in the development of open, user-focused digital twin solutions.”

About FutureOn

Experts in data visualization, FutureOn emerged from Xvision in 2016 to become a standalone provider of state-of-the-art visual engineering for the global energy sector. The company transforms the performance of complex capital projects with cutting-edge visualization and collaboration technology enabling the energy industry transition to Net Zero.   

FutureOn is proud to offer its global customer base industry-leading software solutions to create digital twins that deliver a complete asset visualization and integrated data model that unlocks value through increased efficiency, improved safety, reduced costs, risk mitigation, lower emissions and increased uptime.

About Kongsberg Digital

Kongsberg Digital, a subsidiary of KONGSBERG, is a provider of next-generation software and digital solutions, to customers within maritime, oil and gas, and renewables and utilities. The company consists of more than 500 software experts with leading competence within the internet of things, smart data, artificial intelligence, maritime simulation, automation and autonomous operations. Kongsberg Digital is the group-wide center of digital expertise for the KONGSBERG group.

About Kongsberg

KONGSBERG (OSE-ticker: KOG) is an international, leading global technology corporation delivering mission-critical systems and solutions with extreme performance for customers that operate under extremely challenging conditions. We work with nations, businesses and research environments to push the boundaries of technology development in industries such as space, offshore and energy, merchant marine, defence and aerospace, and more. KONGSBERG has about 11,000 employees located in more than 40 countries, creating a total revenue of NOK 25.6bn in 2020.

FutureOn, the global energy software company and creator of the award-winning, SaaS field design applications, FieldTwin Design and its API-centric collaboration platform, FieldTwin, has been named as a finalist at the OGUK Awards 2021.

The company has been shortlisted in the Business Innovation category in recognition of its pioneering design and planning tools, which have been adopted by the world’s major asset operators to maximise project efficiencies from the earliest concept stage, through to construction and operations, and into decommissioning.

The shortlisted entry focuses on the company's innovative FieldTwin Design software (previously known as FieldAP) in particular, which has been honed at the cutting edge of oil and gas development by world-leading operators in the most challenging of conditions – both environmental and economic.

The digital twin technology can include well placement, field layouts and installation details, as well as crucial bathymetry data and costing tools, and facilitate accurate projections of both technical and investment requirements. Ultimately, the solution supports crucial time and money-saving decisions at the earliest possible stage based on actual project parameters.

Specifically, FutureOn's technology enables a reduced degree of variability, thereby maximising the impact of the capital deployed and speeding the time to first oil. The transfer of information can then be streamlined in real-time across a shared, traceable digital twin platform, where layouts and schematics are produced directly in FieldTwin rather than third-party systems. This cuts the timeline by 30%, and significantly reduces the period necessary to evaluate development options thanks to an iterative, responsive and user-friendly approach to 3D visualisation.

Typically, the tool delivers pre-FEED time savings of approximately 50% and allows asset operators to export the full range of information required to prepare ITT packages for the supply chain – another crucial step in an anticipated acceleration, from discovery to first oil, of between one and two years, which helps to optimise the economics of the project and meet policy demands such as emission reduction.

Organised by the leading trade body for the UK offshore oil and gas industry, Oil & Gas UK (OGUK), the winners will be announced at a physical black-tie awards ceremony to be held at the P&J Live on 8 December 2021.

Jostein Lien, Senior Vice President of Products at FutureOn, commented:

“The OGUK Awards are held in the highest regard in the energy events calendar each year, and it is an honour to have FutureOn and our game-changing digital twin technology recognised. FieldTwin Design demonstrates true digital twin capability, designed – crucially – to work with third party and in-house systems. It provides a direct route to the next generation of field development, offering the ability to make better and faster decisions, providing the shortest path to first oil and the best lifetime returns, with minimal impacts on the environment.

“Events such as these are crucial if we are to share new innovations and successes on a global stage which can bring significant improvements to the industry as a whole. It’s highly encouraging that the OGUK Awards ceremony will bring industry together to reward key achievements and talent during these challenges times. We are looking forward to the ceremony and building on this achievement in the future.”

About FutureOn

Experts in data visualization, FutureOn emerged from Xvision in 2016 to become a standalone provider of state-of-the-art visual engineering for the global energy sector. The company transforms the performance of complex capital projects with our cutting-edge visualization technology.   

FutureOn is proud to offer its global customer base industry-leading software solutions to create digital twins that deliver a complete asset visualization and integrated data model that unlocks value through increased efficiency, improved safety, reduced costs, risk mitigation, lower emissions and increased uptime. 

FutureOn technology includes:

FieldTwin Design, a cloud-based digital platform that provides rapid visual workflows for early-stage subsea engineering work. Multiple data streams from geography to bathymetry, topography, existing infrastructure and other physical constraints can be combined with proprietary information such as reservoirs, wells and drilling to create an information-rich 3D visualization of any potential project location.

FieldTwin provides a visual representation of the entire life cycle of a field by creating and maintaining a digital twin — an exact digital copy of an oil and gas company’s physical asset — which enables producers to maximize asset performance and value.

www.futureon.com

FutureOn, the global software company specializing in the energy sector and creator of the award-winning SaaS field design applications, FieldAP, and its APIcentric collaboration platform, FieldTwin, has been awarded a contract from Aker BP.

The contract which is in place until April, will see Aker BP adopt FutureOn’s transformative digital twin software to digitize their workflows within Concept Development and Field Development Studies.

FutureOn’s unique field design applications, proven API-centric collaboration platforms and digital twin technology, will allow Aker BP to visualize subsea data, map the design of digital twin fields, and foster greater digital collaboration across engineering and project management disciplines during the subsea field development stage.

Paal Roppen, CEO of FutureOn, commented: “We are pleased to secure this significant contract with Aker BP, and that FutureOn is able to support the operator’s continued drive for increased digitalization.

“The impact of our applications is transformational, and will provide a working blueprint for the field development where design changes are instantly reflected across the entire project workscope, updates are communicated across the globe in real-time to all involved parties, which will ultimately minimize mistakes and control risk.”

About FutureOn

Experts in data visualization, FutureOn emerged from Xvision in 2016 to become a standalone provider of state-of-the-art visual engineering for the global energy sector. The company transforms the performance of complex capital projects with our cutting-edge visualization technology.   

FutureOn is proud to offer its global customer base industry-leading software solutions to create digital twins that deliver a complete asset visualization and integrated data model that unlocks value through increased efficiency, improved safety, reduced costs, risk mitigation, lower emissions and increased uptime. 

FutureOn technology includes:

FieldAP, a cloud-based digital platform that provides rapid visual workflows for early-stage subsea engineering work. Multiple data streams from geography to bathymetry, topography, existing infrastructure and other physical constraints can be combined with proprietary information such as reservoirs, wells and drilling to create a information-rich 3D visualization of any potential project location.

FieldTwin provides a visual representation of the entire life cycle of a field by creating and maintaining a digital twin — an exact digital copy of an oil and gas company’s physical asset — which enables producers to maximize asset performance and value.

www.futureon.com

FutureOn, the global software company specialising in the energy sector and creator of the award-winning SaaS field design applications, FieldAP, and its APIcentric collaboration platform, FieldTwin, has made two key senior appointments as part of the company’s strategic growth plans.

Katherine Taylor-Jones brings significant experience and knowledge in strategic financial management and leadership to the newly created position of Chief Financial Officer. Having worked predominantly for fast growth global SaaS businesses in recent years, she joins FutureOn after successfully scaling several tech businesses. She has been responsible for the finance strategy for independent businesses throughout her career.  

Drawing on her experience of scaling both start-up businesses and those with a SaaS offering, Katherine will be responsible for leading FutureOn’s corporate finance strategy in-line with the company’s growth plans, as well as creating a robust financial department to support global operations.

Commenting on her appointment, Katherine said: “FutureOn has delivered impressive growth since it started and I am very pleased to join this fast moving, ambitious company. Having secured investment from the Bentley Acceleration Fund at the end of 2020, FutureOn is ideally positioned to further develop new digital solutions for asset operators that unlock value through increased efficiency, improved safety, reduced costs, risk mitigation, lower carbon footprint and increased uptime.  

“FutureOn has continued to experience demand from businesses across the world who are embracing pioneering digital twin solutions to meet their challenges. There are plenty of opportunities to grow FutureOn’s local capabilities and enhance the on-the-ground service on offer, as well as further grow our partnerships in the UK, and worldwide. I’m looking forward to supporting the company embark on this next phase of growth.”

Joining Katherine is David Bartley, who has been appointed to the role of Head of People. He brings a wealth of experience to the role having held a number of HR leadership positions, which has included establishing people focused operations to support the growth of several tech start-ups. David joins FutureOn from the global software firm, Callsign, where he held the role of Head of People. 

In the newly created role, David will be responsible for implementing new HR processes and policies fit for a growing global business with the aim of attracting, developing and nurturing new and existing talent, as well as driving employee engagement internationally.

Commenting on his appointment, David said: “FutureOn’s people play a critical role in shaping its future, and so part of my focus will be on attracting and retaining the right skills and capabilities to move at pace to drive the business forward. During challenging times, fostering a supportive and inclusive culture is more important than ever, and it’s highly encouraging that FutureOn’s leadership team truly recognise that. It’s an exciting time to join this growing company.”

CEO of FutureOn, Paal Roppen, commented: “I am very pleased to welcome Katherine and David to our senior team, who together bring a wealth of leadership experience to their respective roles.  It is highly encouraging that these high calibre professionals have chosen to join the already talented team at FutureOn. Their business acumen, experience in accelerating the growth of start-up businesses and technical expertise, will prove invaluable. I am confident that their expertise, passion and energy will see them play an important role in shaping our future growth.”

The appointments mark a key phase in the Norwegian firm’s international expansion as it grows its operations in the UK, across Europe, the USA, Middle East and Asia Pacific to meet demand for its suite of digital twin technologies. 

Forming a key part of FutureOn’s growth strategy, the firm has made a number of strategic technology partnerships in recent months. This will allow the company to collaborate on joint- research and development projects, and further broaden the integration of its API digital twin solutions.

About FutureOn

Experts in data visualization, FutureOn emerged from Xvision in 2016 to become a standalone provider of state-of-the-art visual engineering for the global energy sector. The company transforms the performance of complex capital projects with our cutting-edge visualization technology.    

FutureOn is proud to offer its global customer base industry-leading software solutions to create digital twins that deliver a complete asset visualization and integrated data model that unlocks value through increased efficiency, improved safety, reduced costs, risk mitigation, lower emissions and increased uptime.  

FutureOn technology includes:

FieldAP, a cloud-based digital platform that provides rapid visual workflows for early-stage subsea engineering work. Multiple data streams from geography to bathymetry, topography, existing infrastructure and other physical constraints can be combined with proprietary information such as reservoirs, wells and drilling to create a information-rich 3D visualization of any potential project location.

FieldTwin provides a visual representation of the entire life cycle of a field by creating and maintaining a digital twin — an exact digital copy of an oil and gas company’s physical asset — which enables producers to maximize asset performance and value.

www.futureon.com