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.