The solutions enables streamlined digital field development (Image source: Adobe Stock)

FutureOn and Rystad Energy have launched a collaborative digital tool which integrates up-to-date cost estimation with live project data for energy developments for accelerated project delivery

FutureOn’s FieldTwin and Rystad Energy’s Cost Estimating Solution (RCES) are synced in real time which removes data silos and facilitates parallel field concept and cost iteration, enabling customers to continuously assess the financial status and impacts on project CAPEX.

This enables customers across both oil and gas and offshore wind projects to significantly streamline decision making in early phase energy developments and can easily export P50 cost estimates alongside inflation-linked forecasting.

Filip Valica, VP Strategic Partnerships at FutureOn said, "Addressing current workflow inefficiencies across the energy industry is crucial to optimising oil and gas operations while accelerating renewable energy projects. Siloed data needs to be a thing of the past, with data-driven, collaborative decisions leading the way towards net zero.

“We are committed to enabling informed, streamlined and cost-efficient digital field development for our customers. By uniting FutureOn’s FieldTwin technology with Rystad Energy’s expertise in cost estimation, we are redefining how industry approaches the early phase development of energy projects.”