Wood and FutureOn collaborate to provide digital service to operators

Global software firm, FutureOn, has formed a strategic collaboration with Wood, to provide an enhanced service to its client base of global asset operators.

Wood’s expert technical services specialising in the early field development studies for subsea and ocean-based energy systems, will integrate with FutureOn’s unique field design applications, and proven 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 visualisations. 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, optimising asset performance and extending productive field life whilst 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.

Darrell Knight, Executive Vice President of Strategy and Partnerships, said: “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.”

Matt Kirk, Senior Vice President, Specialist Engineering and Consulting at Wood, added: “Asset operators everywhere are recognising the need to completely transform their existing infrastructure as part of the shift towards a net-zero future. Together, Wood and FutureOn will harness its collective expertise to help them make it happen.  

“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.”