Pivotree customer, Harvester Energy, awarded two blocks in UK 33rd Oil & Gas Round

For Immediate Release

Highlights

  • Harvester Energy (UK) Ltd awarded two blocks by NSTA, the UK offshore titles regulator.
  • Pivotree Pty Ltd has a MOU with Harvester Energy for the supply of PIVOTREE units.
  • Harvester is moving ahead with plans to confirm the commercial viability of these potential developments.

Oil and Gas technology company Pivotree Pty Ltd (or the “Company”) and Harvester Energy (“HARVESTER”) advance to the next stage of engagement under their MOU, with the award of two oil and gas blocks from the North Sea Transition Authority (NSTA) in the 33rd UK oil and gas licensing round.

Under the MOU, the companies commit to work together through the development process, with PIVOTREE providing engineering and technical support for early study work. The companies will negotiate a detailed procurement agreement based on the key terms agreed in the MOU.

HARVESTER Chair, Andy Jacob, said: “We consider the PIVOTREE technology to be ideally suited to the North Sea where there are many small, undeveloped oil fields with currently no economic route to market. We are very pleased with the two blocks offered by NSTA.”

PIVOTREE Chair, Gavin Ryan, said: “We are thrilled for Harvester Energy to receive these offers of award. They represent another level of validation of PIVOTREE’s potential value to the oil and gas industry.

PIVOTREE redefines minimum facilities and enables agile operators to achieve first oil in as little as 18 months from FID. We are excited to be working with HARVESTER on these prospects and look forward to a rapid development phase before first oil.”

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 Harvester Energy (UK) Ltd

Harvester Energy (UK) Ltd is a subsidiary of Harvester Energy Pty Ltd, a private energy company headquartered in Perth, Western Australia.

For more information about Harvester Energy, please visit https://harvester.energy/.

/// End ///

 

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.

Contact Us

Let’s explore together how Pivotree can unlock the maximum value of your offshore development.