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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.

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

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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