FutureOn® Launches FieldTwin™ for Smarter Offshore Field Development and Operations
Offshore drilling sees a resurgence with billions planned for investment in new greenfield developments. Digital strategists in the oil and gas sector see the opportunity to leverage new projects to introduce new, more transparent digital workflow processes into their operations. The industry frontrunner in the offshore digital space, FutureOn, today officially launches its digital twin platform FieldTwin, a cloud-based platform which enables the digital twin of the subsea field from first concept to first oil and beyond. FieldTwin digital data visualization of the offshore field allows for smarter, more collaborative, and efficient field planning and operations – getting companies to first oil faster.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190430005891/en/
FutureOn's FieldTwin enables digital twin of the subsea field. (Photo: Business Wire)
“Forward-thinking companies understand the tremendous opportunity of Big Data analytics to gain a competitive advantage and deliver greater value from their significant investments offshore,” said Paal Roppen, chief executive officer of FutureOn. “FieldTwin visualizes and centralizes data into a single source to increase collaboration, increase transparency, reduce costs, speed timelines and improve operations.”
- Builds field architecture around a single source of truth thus improving collaboration between project teams and lowering risk;
- Improves project workflow and data transparency, while protecting proprietary information;
- Integrates IoT sensor data into a visual context dashboard for real-time monitoring of equipment statuses, well flow-rates, production values, vessel locations, and engineer tasks;
- Streamlines previously unmanageable and underutilized data streams through 2D/3D visualizations;
- Reduces installation timelines;
- Secures data through Cloud security systems;
- Connects artificial intelligence and historical data to well-planning, drilling, installation and operations to improve field layouts and concept selection.
“Our E&P customers eventually want to unman the platforms, and remotely monitor and maintain their offshore operations and assets,” Roppen continued. “FutureOn’s FieldTwin allows all stakeholders to now see more than ever before — the same information, at the same time to make more impact on a project’s outcome and make more efficient decisions that save time, reduce errors and mitigate risk.”
In recognition of the company’s impact on transforming traditional workflows in the oil and gas industry, the Offshore Technology Conference (OTC) has named FutureOn, the producer of FieldAP™— a FieldTwin platform application, a 2019 Spotlight on New Technology® Award recipient. The Spotlight on New Technology Award showcases 18 of the most advanced technologies that are leading the offshore industry into the future. OTC will present the award to FutureOn on May 6, 2019 at its annual conference, one of the best-attended in the sector, in Houston, Texas.
FutureOn will present in collaboration with McDermott and Siemens at their booths at OTC to demonstrate how FieldTwin is being leveraged currently by forward-thinking clients and partners’ digital strategies to empower their digital strategies.
For more on FieldTwin, visit us at OTC in Norwegian Pavilion at Booth #4438.
Headquartered in Oslo, Norway with an American division and offices here in the US, FutureOn® is a digital technology innovator enabling customers to see more possibilities for their assets and begin to make more forward-thinking choices. For more information on FutureOn®, visit: www.futureon.com and connect with us on Facebook, LinkedIn, and Twitter.
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