FieldTwin SIGNED

Project "FieldTwin" data sheet

The following table provides information about the project.

 Partnership

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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.