FutureOn® Launches FieldTwin™ for Smarter Offshore Field Development and Operations

HOUSTON–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/FieldAP?src=hash” target=”_blank”gt;#FieldAPlt;/agt;–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.

“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.”

FieldTwin:

• 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.

About FutureOn®

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.

Contacts

Melanie Taplett or Deborah Buks
Ward, for FutureOn
mtaplett@wardcc.com
dbuks@wardcc.com
713-869-0707