In the oil and gas sector, terms such as digitalization, smart assets, digital transformation, and Industry 4.0 are on everyone’s lips. Whatever the label, these technologies, particularly big data analytics, significantly transform the bidding process for oil and gas engineering firms.
In the past, the basic bidding process captured brainstormed ideas from engineers on flip charts and in PowerPoint, and then converted them into visuals via Visio, Corel Draw, and MS Paint. An outsourced engineering house would then convert these documents into Computer Aided Design or CAD files. The legacy engineering design process limited the EPC firms’ ability to meet tight design schedules and implement late changes quickly.
Save time and money: more field concepts in a much shorter time
Technologies such as FutureOn®’s FieldAP™ and FieldTwin™ have completely altered the way EPC companies are able to conduct business. FieldAP™ generates many more field concepts in a much shorter time and eliminates inaccurate options because data is uploaded into the cloud to visualize the fields and run computations, bringing higher value to oil and gas operators. For example, a Houston-based engineering firm now uses FieldAP™ to build 2D and 3D fields directly in a collaborative web environment to rapidly produce many more concept designs for multiple fields that include essential information, such as flowline data. The company now develops concept proposals in 20 percent of the time it historically took and responds to questions from operators and partners by accessing critical data in FieldAP™ directly.
The additional smart functionality of FieldAP™ eliminates the pre-FEED CAD work during the proof-of-concept stage and the need to hire an outsourced engineering firm, saving tens of thousands of dollars. For example, an outsourced team of four drafters, working for two to three weeks, could cost up to $40,000.
Single data source and greater collaboration
As a single data source, both FieldAP™ and FieldTwin™ house real-time data in one place from design concept to decommissioning. The data is accessible to anyone no matter where he or she sits. The platform creates a space within the engineering process for creativity, without affecting progress negatively, and enables solutions to evolve through a collaborative effort versus a siloed approach as in the past.
To learn more about FieldAP™ and how it drives substantial competitive advantage in subsea field concepts, see the Houston Energy Industry News.
By rethinking the bidding process, FutureOn®’s EPC customers win more bids and drive new revenue in offshore engineering projects. Contact us today to learn how we can help take your bidding process to 4.0.