2H Offshore Engineering & Pivotree Renew Global MOU

For Immediate Release

Highlights

  • Pivotree Pty Ltd and 2H Offshore Engineering (part of the Acteon Group), have renewed for a further 12 months, a global channel partnership to co-market each other’s proprietary offerings.
  • 2H delivers industry-leading advanced systems engineering for the offshore energy sectors and is the leading provider of marginal field development solutions in the shallow water.
  • 2H has offices in all major oil and gas markets, providing global exposure and on-ground support for Pivotree’s business development efforts.
  • Pivotree is already enjoying the benefits of this mutually beneficial partnership.

Pivotree secures global exposure and active business development assistance for its innovative technology to unlock mid-water stranded and marginal fields.

Perth, Western Australia – 21-Oct 2023 – Pivotree Pty Ltd is very pleased to announce the renewal of a global MOU with 2H, the market leader globally in marginal offshore oil and gas field development solutions.

2H delivers leading-edge systems engineering for a variety of subsea oil and gas structures, from riser and conductor systems, pipelines, and flowlines, to minimum facility shallow water platforms (e.g., CoSMOS). 2H is the market leader in shallow water minimum facilities developments, having installed more systems than any other solution provider.

In October 2021, Pivotree and 2H entered a global MOU to work together to explore the market for the Pivotree Harvester System with owners and operators of stranded or marginal offshore oil and gas fields, delivered as a combined service offering comprising Pivotree’s technology and intellectual property under licence and 2H’s services and capability to cover engineering, procurement, construction, and installation.

Today, Pivotree proudly announces the renewal of the MOU, signalling continued efforts by both parties to co-market the Pivotree solution and 2H’s services.

Pivotree CEO, Chris Merrick, said: “We are thrilled to renew our global partnership with 2H, a recognised leader in offshore oil and gas field development solutions. This collaboration has already proven to be mutually beneficial, opening doors to a world of opportunities. With 2H’s expertise and reach in the industry, we are well-positioned to bring our innovative

Pivotree Harvester System to a global audience. Together, we are dedicated to unlocking stranded and marginal offshore fields, contributing to the sustainable growth of the energy sector.”

2H Offshore Director, Elizabeth Tellier, said: “We are delighted to leverage 2Hs extensive expertise in marginal field developments as we venture into deeper waters and more challenging environments with the use of a Pivotree system. This innovative technology promises to revolutionize the approach to unlocking stranded offshore fields in depths exceeding 120 meters, marking a significant milestone to advance marginal field developments globally.”

About Pivotree Pty Ltd

Pivotree Pty Ltd is a technology company based in Perth, Western Australia. The company specialises in low-cost, low-risk, agile energy production and carbon storage technologies, with a mission to accelerate the global transition to a sustainable and low-carbon energy system.

For more information about Pivotree Pty Ltd and its innovative technology, please visit www.pivotree.com.au.

About 2H

2H delivers industry-leading advanced systems engineering for the offshore energy sectors. 2H provides its clients a trusted, independent partner; combining an unrivalled domain knowledge with leading edge technology to help realise their most challenging engineering projects.

For more information about 2H and its expertise and experience, please visit www.2hoffshore.com.

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This announcement is authorised for release by Marcus Christian, Executive Director, Pivotree.

For further information please contact:

Marcus Christian, Executive Director

mpchristian@pivotree.com.au

Forward Looking Statements

Statements contained in this release, particularly those regarding possible or assumed future performance, revenue, costs, dividends, production levels or rates, prices, or potential growth of Pivotree are, or may be, forward looking statements.  Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties.  Actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors.

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