A conventional mid-water field development requires a large amount of ancillary equipment (platforms, moorings, flowlines, manifolds) to facilitate extraction of hydrocarbons. This drives projects to require a larger base of reserves to overcome the CAPEX for procurement and installation.
The Pivotree Harvester System significantly reduces the CAPEX required to initiate production from a field by employing only the bare minimum of equipment.
Using data from Rystad Energy* we identified 714 potentially stranded fields globally (those <50MMbbls, >10kms from offtake and pre-FID**) comprising a total of over 17 billion barrels of oil. Filtering this data based on Pivotree's target market profile, limited to just seven low-risk regional markets, reveals an addressable market of over 270 fields with approx. 2.75 billion barrels of oil.
Pivotree provides a route to market for the owners of stranded assets down to as little as 8.5 MMbbls. If you are in this position, we'd love to hear from you!
Pivotree is building a strong portfolio of intellectual property protection for its novel and innovative system. Patents, proprietary detailed system design and copyright, and confidential operating processes, methods and controls, are just some of the ways Pivotree protects its competitive advantage.
The Pivotree Harvester System is the result of years of R&D. Internal R&D has been validated by external professionals culminating in a Statement of Feasibility issued by Det Norsk Veritas (DNV).
Pivotree is commencing production of a commercial demonstrator ready for field deployment by late 2022. On completion, the company will be ready to commence a production pilot.
Pivotree has secured interest from a number of Australian and international operators and is pursuing additional avenues to bring this exciting technology to market.
To ensure safety, reliability and performance, Pivotree has partnered with leading suppliers in their fields. We've involved our partners from the conceptual design stage, and we will continue to work closely with them to bring the technology to market and beyond.
If you are a potential customer or partner we'd love to hear from you!