FutureOn, a software company specializing in the energy sector, and consulting and engineering firm Wood have formed a strategic collaboration to provide an enhanced digital service to asset operators.
Wood’s technical services specializing in early field-development studies for subsea and ocean-based energy systems will integrate with FutureOn’s field-design applications.
“The collaboration is the perfect fit as we place the same importance on bringing innovation to the fore to solve the most critical challenges, including the improved communication and increased collaboration necessary to achieve the shortest possible path to energy generation, the best returns over the life of any asset, and minimizing the impact on the environment,” said Darrell Knight, FutureOn’s executive vice president of strategy and partnerships.
Wood trialed FutureOn’s technology in 2019, and now the latest agreement aims to see Wood provide technical and integration services to operators using FutureOn’s software. In addition, the company will offer the software as part of its suite of technical services to new and existing customers.
FutureOn’s open and collaborative approach to field design is based on data-rich 2D and 3D visualizations. The inclusion of metadata on assets and costs is expected to enable early-stage production and financial forecasts. It also provides a real-time visual blueprint of field development, allowing project teams and contractors to collaborate remotely.
Wood and FutureOn say they are committed to supporting the world’s major asset operators’ efforts to build a sustainable economic recovery from their existing infrastructure by optimizing asset performance and extending productive field life while accelerating the move toward net-zero. The agreement will support these initiatives by combining FutureOn’s FieldTwin technology with Wood’s Automated Design product for pipeline systems that address key aspects of the global net-zero challenge.
“Asset operators everywhere are recognizing the need to completely transform their existing infrastructure as part of the shift towards a net-zero future,” said Matt Kirk, senior vice president and specialist for engineering and consulting at Wood.