Digitalization of offshore assets can seem like a leap into the unknown. However, there are many companies making that leap who are beginning to recognizing how going digital can empower them to accomplish more.
Increasingly the excitement around digitalization is prevalent as we meet with operators and service companies. There is now an eagerness to learn how using smart cloud-based digital solutions such as FieldAP can address daily decision-making challenges.
Rising global demand for oil over the past four years has created tight work schedules and an excess of projects to complete. Tighter operating budgets, though, have meant companies are forced to rely on fewer employees in the immediate term to meet this growing work demand. While these existing teams represent the best of talent within the field, they are stretched thin. Previous levels of employment are untenable for most oil and gas companies today, which are intent on showing profits consistently in a favorable price environment, and can’t justify hiring a significant number of new workers. Yet, there is an incredible opportunity to be seized through increasing profits from more yearly project completions – enabled by smartly developing and operating assets digitally with the staff in place.
The smartest and most future-focused, long-term-profit-driven companies are exploring digitalization strategies with FutureOn to drive greater and better thinking from their engineering talent while meeting the business imperative of providing value to bring in revenues.
FieldAP, a cloud-based, real-time 3D visual representation of the subsea field, digitalizes the field planning process. FieldAP enables teams to see more about their assets from every vantage point and every point in time, and make better decisions.
What interests these asset teams most are FieldAP’s real-time 3D digital simulations and visualizations that allow engineers to explore more ideas, more rapidly, in collaboration with colleagues all around the world. Through the power of digitization, engineers can examine multiple possibilities in minutes rather than days, weeks or months required in years past.
Engineers using our 3D digital visualization software can design safe and economic projects in less time than ever before.
Operators’ management teams see the opportunity to make more productive use of their in-house talent as well as to get far more value from their contractors working in FieldAP on their projects.
Contractors savvy enough not to feel threatened by digitization are deploying FieldAP to upstage would-be competitors with faster delivery of more detailed concepts, including design options to give their customers choices they typically would not see at each stage of a project.
And FieldAP is just the beginning for operators and contractors. To further optimize assets, FutureOn’s FieldTwin is a dynamic digital twin that provides real-time information about the status of equipment thanks to sensors connected to the equipment in the field. Over time, the system can identify unacceptable trends in equipment functionality or changes in production rates, taking the guesswork out of maintenance and operations. Simply put, companies throughout the supply chain see the competitive advantages digitization can bring to their unique position in the market, and they are acting proactively to change the game on their peer companies – many of whom will be hard-pressed to play catch-up later.
Ready to see how digitization will help you do more with the talent you have and preempt your competitors? Contact us today for a demo.