First centralized data platform for efficient and collaborative development of offshore energy projects

Informazioni relative al progetto

FieldTwin

ID dell’accordo di sovvenzione: 876696

DOI

10.3030/876696

Progetto chiuso

Data della firma CE 6 Settembre 2019

Data di avvio 1 Agosto 2019

Data di completamento 30 Novembre 2019

Finanziato da

• INDUSTRIAL LEADERSHIP - Innovation In SMEs

Costo totale

€ 71 429,00

Contributo UE

€ 50 000,00

Coordinato da

FUTUREON AS
Norway

Periodic Reporting for period 1 - FieldTwin (First centralized data platform for efficient and collaborative development of offshore energy projects)

Periodo di rendicontazione: 2019-08-01 al 2019-11-30

Sintesi del contesto e degli obiettivi generali del progetto

Fieldtwin is a digital twin and asset planning tool to enhance decision making and collaboration on large capital projects in the offshore energy industries. FutureOn currently market the Field Activity Planner software for the asset planning stage in offshore oil and gas projects. The objectives for this project were to evaluate the technical and commercial feasibility of developing FieldAP into a multi-industry, full lifecycle software solution and to develop a roadmap to market for the final product. Tasks included researching and defining the new verticals to incorporate into the product, defining the market potential and executing a financial analysis to evaluate profitability and required investment.

Lavoro eseguito dall’inizio del progetto fino alla fine del periodo coperto dalla relazione e principali risultati finora ottenuti

1. Evaluation and definition of priority new verticals for Fieldtwin. A full market need, market landscape and value proposition compatibility analysis was conducted, to review optimal growth sectors to pursue. Decommissioning and Wind Energy were identified as key targets for development.
2. A roadmap to market including a detailed technical development plan was established. A 24 month project of 5 work packages has been defined for a total budget of €2.7M
3. Market analysis of key sectors, market trends and TAMSAMSOM potential has been defined.
4. Financial analysis has demonstrated the need for further funding to support the development project but with a highly profitable outcome from new verticals of €15m additional revenue by 2025 (40% of total fieldtwin) and an ROI of 6.5.
5. Business plan has been defined with detailed commercial strategy and growth plan.

Progressi oltre lo stato dell’arte e potenziale impatto previsto (incluso l’impatto socioeconomico e le implicazioni sociali più ampie del progetto fino ad ora)

Fieldtwin can revolutionize the planning process for large, complex offshore energy projects. Currently multi-disciplinary teams and joint ventures must rely on a complex system of individual specialist software silutions and spreadsheets to build and share their field models and planning scenarios. Fieldtwin will provide a single, cloud based solution, pulling all relevant data from critical downstream applications. This will deliver rapid access and insight to consistent and accurate project data and modelling, rapidly accelerating decision making (by 40%), reducing project risk and improving project NPV by up to 8%. This real value will be felt throughout the value chain, critically reducing cost and environmental risk for hazardous decommissioning projects and enabling faster growth of the offshore wind sector.

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