Norwegian software company FutureOn has secured an investment from the Bentley Acceleration Fund and formed a strategic collaboration with Bentley Systems to accelerate the oil and gas sector digitalisation.
Under the strategic partnership, FutureOn and Bentley Systems will combine FutureOn’s Cloud-based software field design application (FieldAP) and its API-centric collaboration platform (FieldTwin) with Bentley’s iTwin platform.
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The investment sets the stage for FutureOn and Bentley to deliver the ‘next-generation’ digital twin solution that is capable of enhancing design methodologies in upstream project development.
FutureOn CEO Paal Roppen said: “This is a significant milestone for FutureOn, which will greatly drive the growth of our business by extending its reach.
“Also, while we will work closely with Bentley we will maintain our neutrality as an independent software vendor with a clear mandate to provide our customers a fully open and standards-driven digital platform.
“This flexibility supports our customers’ desire for remote collaborative decision making at a critical time for the oil and gas industry.”
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By GlobalDataBoth the platforms of FutureOn and Bentley use ‘open web standards’ to facilitate complex integration as well as customisation.
The combined offerings of FutureOn and Bentley are already being implemented in exploration and production (E&P) workflows.
Bentley design integration vice-president Ken Adamson said: “We are excited for this new opportunity to collaborate with FutureOn to provide advanced digital twin technology for the oil and gas industry, and especially for the addition of subsea expertise.
“Combining our design, modeling, and analysis experience with FutureOn’s data management and visualisation acumen to help build subsea digital twins will enable our users to further enhance their engineering performance, operations and profitability.”
In August 2018, Norwegian energy firm Equinor signed a multi-licence agreement with FutureOn to use the latter’s FieldAP.
