Investment Accelerates Digitalization Of Oil And Gas Industry

Oct. 28, 2020
FutureOn secures an investment from the Bentley Acceleration Fund and establishes a strategic partnership with US-based Bentley Systems to accelerate the digitalization of the oil and gas industry.

FutureOn, a fast-growing Norwegian software company that works with an expanding portfolio of global energy companies, secures an investment from the Bentley Acceleration Fund and establishes a strategic partnership with US-based Bentley Systems to accelerate the digitalization of the oil and gas industry.

FutureOn and Bentley Systems, an infrastructure engineering software company, will combine FutureOn’s award-winning field design application (FieldAP) and its API-centric collaboration platform (FieldTwin) with Bentley’s iTwin platform to provide customers a next-generation digital twin offering capable of driving design methodologies in upstream project development for the next decade, according to FutureOn. Both FutureOn and Bentley platforms use open web standards to facilitate complex integration and customization, and the combined offerings are already being implemented in exploration and production workflows.

“This is a significant milestone for FutureOn which will greatly drive the growth of our business by extending its reach,” says FutureOn CEO Paal Roppen. “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.”

FutureOn emerged from the 3D visualization agency Xvision with over 20 years of visual engineering experience specifically in the oil and gas subsea domain. In 2019 FutureOn’s FieldAP received the OTC Spotlight on New Technology Award for best software innovation in the oil and gas industry. Most recently, the company launched the cloud-based data platform FieldTwin, which offers centralized API integrations to many engineering simulation and data analysis tools. When combined with FieldTwin, FieldAP enables cross-discipline remote collaboration for design and development of subsea digital twins.

For more information, visit: www.futureon.com 

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