FutureOn, a global software company specializing in the energy sector, has formed a strategic collaboration with global consulting and engineering leader Wood, to provide an enhanced service to its client base of global asset operators.
Wood’s technical services, specializing in the early field development studies for subsea and ocean-based energy systems, will integrate with FutureOn’s field design applications and API-centric collaboration platforms, resulting in significant efficiency gains across the design phase.
Having previously trialled FutureOn’s technology in 2019, the latest agreement will 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 across the world.
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 will enable reliable early-stage production and financial forecasts. It also provides a real-time visual blueprint of a field development allowing project teams and contractors to collaborate remotely, development of options at pace and a shared project workspace for timely delivery.
Looking to the future, Wood and FutureOn are committed to supporting the world’s major asset operators’ efforts to build a sustainable economic recovery from their existing infrastructure, optimizing asset performance and extending productive field life while accelerating the move towards net-zero. The agreement will support these initiatives by combining the power of FutureOn’s FieldTwin technology for the streamlined design of renewable energy systems with Wood’s Automated Design product for pipeline systems that address key aspects of the global net-zero challenge.
“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 minimising the impact on the environment. We’re looking forward to building on this collaboration, and bringing this new, integrated solution to our customers to support their goals,” said Darrell Knight, Executive Vice President of Strategy and Partnerships at FutureOn.
“The opportunities to influence project economics and optimise the CAPEX on energy developments remains highest at the conceptual and early phases of a project. This collaboration brings together the smart and efficient field development visualisation delivered with FutureOn’s FieldTwin with the automated design and deep domain expertise from Wood. This powerful combination will provide faster and more predictable project outcomes for our clients,” said Matt Kirk, Senior Vice President, Specialist Engineering and Consulting at Wood.