FutureOn, the global energy software company, has signed a recurring annual software license agreement with Petoro. The agreement will provide FutureOn’s award-winning FieldTwin Design software for use on strategic field development projects across the Norwegian oil and gas sector on an ongoing basis.
FieldTwin Design – an innovative visualisation and collaboration platform – allows Petoro, a Norwegian state-owned limited company, to work more closely with operators in the early phase evaluation of projects. The software helps Petoro streamline and enhance complex subsea development concepts, which results in reduced risk at project decision points.
FutureOn’s FieldTwin Design software allows operators to design, create and maintain a digital copy of physical field assets for maximised project value. By connecting disparate data and providing an accurate visual representation of offshore projects in a fully georeferenced environment, operators like Petoro can optimise field development projects design, equipment, field operations, and well production.
Although a relatively new FieldTwin user, Petoro has already capitalised on proven benefits from using FieldTwin Design. The software has proven itself as valuable support to project decisions only a few months after implementation, by improving the company’s understanding of scope of work and technical challenges. Petoro quickly experienced closer and better collaboration with operators and partners utilising digital subsea models.
Pål Roppen, CEO at FutureOn says, “It is rewarding to receive such positive feedback and results regarding FieldTwin Design’s role in Petoro’s operations so early in our partnership. We are proud that our software is used to streamline operations and enhance productivity, and we look forward to working with Petoro to achieve efficient and data-rich findings.”
“Last year, oil and gas production in Norway continued to increase, with this trend expected to continue over the coming years. We believe that collaboration between companies like FutureOn and Petoro will be crucial in managing energy production while also ensuring a comprehensive local supply chain for the energy transition,” Roppen continues.
Britt Bjelland, Senior Technology Advisor at Petoro says, “We envision FutureOn’s FieldTwin Design to enable optimised area development evaluations and infrastructure, while also reducing the CO2 footprint of projects. We believe the software that FutureOn has developed will assist the digital transformation of the oil and gas industry, reducing asset turnover and project execution time.”
“We have already experienced the benefits of interactively sharing project models to various stakeholders, which made the entire process more efficient and collaborative. FutureOn’s software has proven to be valuable for early concept evaluations and in supporting concept decisions, and we look forward to continuing our working relationship with FutureOn,” Bjelland adds.