FutureOn Shines a Bright Spotlight on “Digital Twin” Technology Advancements at 2018 Offshore Technology Conference

McDermott International and FutureOn to address benefits of offshore
collaboration technologies and showcase FieldAP digitization
capabilities at OTC press conference

HOUSTON–(BUSINESS WIRE)–FutureOn,
a digital technology innovator enabling customers to see more
possibilities for their assets and begin to make more
forward-thinking choices, today announced the company will reveal their
digitization success for offshore operations at the 2018 Offshore
Technology Conference (OTC) taking place April 30 – May 3, 2018 in
Houston, Texas at NRG Park.

Based in Oslo, Norway, FutureOn has built a reputation for developing
innovative, efficient and cost-saving technology solutions for the
offshore industry such as its “digital twin” collaboration tool,
FieldAP. The tool provides offshore project managers the ability to
visualize, digitize and collaborate on field development, regardless of
geographic location. Currently adopted by some of the world’s largest
exploration and production companies and the service companies
supporting them, such as engineering, procurement, construction and
installation (EPCI) leader McDermott International, Inc. (McDermott),
FieldAP is capable of accelerating offshore project timelines by up to
80% and driving cost savings as high as 70% across the lifecycle of a
project.

On April 30, 2018 from 9:00 a.m. CT – 9:50 a.m. CT in room 406-407,
Level 2 in NRG Center, FutureOn will host a press conference. The
company’s Chief Executive Officer Paal Roppen will discuss the company’s
transformative digitization capabilities in the offshore industry;
reveal the benefits FieldAP yields for customers (via a live
demonstration of the platform by FutureOn Chief Technology Officer Olav
Sylthe); and provide an overview of the company’s current relationship
with McDermott. Special guest Vaseem Khan, Vice President of Global
Engineering for McDermott, will also speak about digitization strategies
for the offshore industry and the integration of FieldAP into
McDermott’s project lifecycle management system for subsea engineering
projects as part of its Gemini XD program. Attending media
representatives will also have the opportunity to participate in a Q&A
session with FutureOn and McDermott spokespersons.

“FieldAP will become the standard tool for subsea field layout and
optimization as a part of Gemini XD,” said Khan. “It is a transformative
initiative and we are proud to discuss and demonstrate with FutureOn at
OTC on how the FieldAP solution will further increase our project
lifecycle management system efficiencies.”

FutureOn’s Olav Sylthe will also speak at OTC on May 2 in room 604 from
3:50 p.m. CT – 4:12 p.m. CT as part of the “Leveraging Big Data”
session. He will address the current state of disruptive digitization
technology efforts and impact on offshore operations.

FutureOn is exhibiting in booth #4438 as part of the Norwegian Pavilion
(between halls A and B in NRG Center) where live demonstrations of
FieldAP will be available. Further, FieldAP will be demonstrated as part
of the McDermott Gemini XD solution at 11:30 a.m. CT and 3:30 p.m. CT
April 30 – May 3 in the McDermott booth #2615 (between halls B and C in
NRG Center).

“We are excited to have an increased presence at OTC 2018 and
demonstrate real-world examples of how FutureOn and our collaborative
platform technology offering, FieldAP, are disrupting offshore
engineering processes,” said Roppen. “Many offshore industry players are
quickly growing tired of operational efficiencies and sluggish revenue
growth. They yearn for disruptive, digital collaboration technologies
such as FieldAP that will help them make decisions better, quicker and
faster, and firmly establish their position as a lasting leader across
the competitive landscape. And FutureOn is ready to take them there.”

For more information on FutureOn and their FieldAP technology, visit www.futureon.com.

About FutureOn

Headquartered in Oslo, Norway with a U.S. office in Houston, FutureOn is
a digital technology innovator enabling customers to see more
possibilities for their assets and begin to make more
forward-thinking choices. For more information on FutureOn and its
collaborative platform solution FieldAP, visit: www.futureon.com
and connect with us on Facebook,
LinkedIn,
Twitter
and YouTube.

Contacts

Ward, for FutureOn
Molly LeCronier, 713-869-0707 (office)
917-282-4613
(mobile)
[email protected]