Opendata, web and dolomites

FieldTwin SIGNED

First centralized data platform for efficient and collaborative development of offshore energy projects

Total Cost €

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EC-Contrib. €

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Partnership

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 FieldTwin project word cloud

Explore the words cloud of the FieldTwin project. It provides you a very rough idea of what is the project "FieldTwin" about.

licenses    phases    xvision    software    worldwide    team    status    generating    prevent    environment    senior    paas    engineering    collaborative    clients    professionals    substantially    corporations    benefits    time    accelerated    data    financial    big    experts    founders    smart    planning    provider    capital    risks    commercial    80    quo    world    co    decision    counting    interacts    tools    26    twin    serve    risk    timelines    estimate    solution    millions    visual    external    total    2022    commercialised    multitude    mission    domain    70    maintenance    sources    11k    lower    companies    tool    delays    core    futureon    selling    feasibility    model    entrepreneurs    first    amongst    streamlined    uncovered    emerges    installing    share    source    4m    basis    finalize    abandoning    30    communications    analytic    life    energy    lacking    industry    solutions    market    digital    licensees    beta    offshore    context    errors    strategy    assets    occurs    chain    ecosystem    plan    15    savings   

Project "FieldTwin" data sheet

The following table provides information about the project.

Coordinator
FUTUREON AS 

Organization address
address: KONGSBERGGATE 11
city: OSLO
postcode: 153
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Norway [NO]
 Project website https://www.futureon.com/digital-field-twin/
 Total cost 71˙429 €
 EC max contribution 50˙000 € (70%)
 Programme 1. H2020-EU.3. (PRIORITY 'Societal challenges)
2. H2020-EU.2.3. (INDUSTRIAL LEADERSHIP - Innovation In SMEs)
3. H2020-EU.2.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies)
 Code Call H2020-SMEInst-2018-2020-1
 Funding Scheme SME-1
 Starting year 2019
 Duration (year-month-day) from 2019-08-01   to  2019-11-30

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    FUTUREON AS NO (OSLO) coordinator 50˙000.00

Map

 Project objective

Offshore project design, planning and maintenance are complex tasks involving a multitude of companies and domain experts. The industry is lacking the ability to share information across the ecosystem of companies. This status quo substantially delays project timelines and prevent for risks to be uncovered. In an industry characterized by high capital cost, streamlined execution and avoided risk enable millions in savings.

FieldTwin is a digital working environment for planning, installing, operating and abandoning energy fields. Assets are integrated with external data sources and smart analytic tools creating smart digital fields. Collaboration occurs in a visual relevant context (as it will in real-world), in real-time and based on real data. The benefits are a lower risk of communications and planning errors; 30% to 70% reduced cost in the design process for the whole value chain by quickly finding the best solution and accelerated timelines across the life of a project, 20-80% lead time reduction in planning and design phases and total project lead time reduction or 10-30%.

With FieldTwin we are first to market. FieldTwin is commercialised as a PaaS model. We already have over 100 beta user-licenses, counting with big corporations amongst our clients. We estimate selling 11k licensees by 2022, generating €26.4M. The feasibility study will serve as the basis to finalize our product development strategy and commercial and financial plan. FutureON AS emerges from Xvision AS - with more than 15 years’ experience as provider of visual engineering solutions for clients worldwide in the offshore domain. Our core team and co-founders are all experienced entrepreneurs and senior professionals within visual design, software development and offshore domain experts. Our mission is to provide the Energy Industry a collaborative open digital tool that interacts with any data source at any time for any user in the decision-making ecosystem.

Are you the coordinator (or a participant) of this project? Plaese send me more information about the "FIELDTWIN" project.

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The information about "FIELDTWIN" are provided by the European Opendata Portal: CORDIS opendata.

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