Market Overview

Subsea 7 Signs on for FutureOn Planning Software

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FIeldAP's cloud-based collaborative visualization environment will
enable Subsea 7 to save time when planning offshore construction projects

FutureOn
today announced a multi-license contract for its Field Activity Planner
(FieldAP) software with Subsea 7, a leading global contractor providing
engineering, construction and services to the offshore energy industry.

"FieldAP brings all the data about the field into one centralized
digital environment to help our customers see more about their assets
from every vantage point and collaborate meaningfully, which makes it
possible for them to make economically prudent planning decisions," explained
Olav Sylthe, Chief Technology Officer of FutureOn. "FieldAP can be used
in conjunction with other tools, such as flow assurance simulation
software. With Subsea 7's equipment and construction asset metadata
integrated into their FieldAP environment, the contractor can easily
test different options to determine the best flow assurance scenario and
most cost-effective plans for any project."

FieldAP, the first true online collaboration tool for the energy
industry, provides offshore project managers the ability to visualize,
digitize and collaborate on field development, regardless of geographic
location. Adopted by some of the world's largest exploration and
development companies and the service companies supporting them, the
online tool is capable of accelerating project timelines, especially
during the early concept and FEED phases. These time savings can drive
considerable cost savings across the life of the project.

"When a customer uses FieldAP, they are able to build up the project's
digital story from the outset, rather than having to rely on data
converted from an analog to digital format," Sylthe said. "They're
starting with digital files, bathymetry files, equipment metadata files,
cost data and all the other sets of data that are necessary for planning
a construction project. Having all the digital information in one
centralized, cloud-based ecosystem removes the guesswork from project
planning and operations."

FutureOn is developing additional industry applications where their
collaboration technologies can improve workflow processes and business
outcomes.

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, and Twitter.

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