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FutureOn and Rystad Energy launch revolutionary cost estimation tool for energy industry


FutureOn and Rystad Energy launch revolutionary cost estimation tool for energy industry

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.

Source: FutureOn

By using this seamless workflow, customers across both oil and gas and offshore wind projects can significantly streamline decision making in early phase energy developments and can easily export P50 cost estimates alongside inflation-linked forecasting.

Addressing current workflow inefficiencies across the energy industry is crucial to optimizing 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 Field Twin technology with Rystad Energy’s expertise in cost estimation, we are redefining how industry approached the early phase development of energy projects.

Filip Valica, VP Strategic Partnerships at FutureOn

Integrating FutureOn’s field visualization software with Rystad Energy’s cost estimating toolset enables project development teams to accelerate the project evaluation phase and break down barriers between departments. We’re excited about the added value this partnership provides our users and looking forward to driving more efficient project outcomes.

Rob Mathey, VP Cost Estimating of Rystad Energy

The integrated solution is available to Rystad Energy and FutureOn FieldTwin customers today. 

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