Digital oilfield

Petoro Picks FutureOn’s Software

The agreement will allow the Norwegian petroleum company to use FutureOn’s digital twin software for field development.

Source: FutureOn

Norwegian petroleum company Petoro has picked FutureOn as the provider of the software it will use for field development. The software licensing agreement will allow Petoro to use FutureOn’s FieldTwin Design software for strategic field-development projects.

“Last year, oil and gas production in Norway continued to increase, with this trend expected to continue over the coming years,” said Pål Roppen, FutureOn’s CEO. “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.”

FieldTwin Design—a visualization and collaboration platform— will allow Petoro to work closely with operators in the early phase evaluation of projects, streamlining and enhancing enhance complex subsea development concepts.

The software lets operators design, create, and maintain digital copies of physical field assets.

“We envision FutureOn’s FieldTwin Design to enable optimised area development evaluations and infrastructure, while also reducing the CO2 footprint of projects,” said Britt Bjelland, senior technology adviser at Petoro. “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.”

“It is rewarding to receive such positive feedback and results regarding FieldTwin Design’s role in Petoro’s operations so early in our partnership,” Roppen said.