Pivotree appoints JST Group as Agent, targeting Thailand Stranded Gas Market

Highlights

  • Agency agreement secured with JST Group to promote and sell Pivotree in Thailand
  • JST Group is a full services provider to the Oil & Gas sector, having delivered over 500 projects  throughout Asia
  • JST has been operating for over 40 years in Thailand with long standing relationships with many potential customers of Pivotree
  • This agreement allows Pivotree to leverage JST groups existing sales team and established  reputation for minimal cost.

Oil and Gas technology company Pivotree (or the “Company”) is pleased to advise that it has secured an agency agreement (“Agreement”) with a prominent Thailand-based, Oil & Gas services company, JST Group.  (www.jst-group.com) (“JST”) to significantly expand its exposure in the Thailand market. The Agreement  follows the public expressed mandate of the Thailand government to explore stranded gas as a mitigation to  the regions current energy security challenges.

JST is a large, privately held company, located Bangkok with offices throughout SE Asia. It specializes in a full  range of services and products including human resources supply, technical products and services, coating  manufacturing services, heat treatment, marine supply, satellite communications, CAD, and well P&A, and  decommissioning services.

The group has approximately 500 employees throughout SE Asia and regularly engages with all the major Oil  and Gas players in the region. JST has a sales team of highly experienced representatives that are tapped into  an established local market.

Under the Agreement, JST will market and sell Pivotree’s product in Thailand. The Agreement does not  provide for a minimum term and will continue in perpetuity.

About Pivotree

Pivotree has designed a field development concept for predominantly liquids-based hydrocarbon reservoirs  (oilfields) too small to support a conventional standalone development and too remote to tie back to existing  facilities via a pipeline.

The value proposition of the Pivotree Harvester System targets companies that own geographically or  economically stranded oilfields. Pivotree’s potential to unlock small field developments significantly reduces  project risk and gives owners and operators of stranded assets a profitable path to market.

Pivotree redefines what is meant by “minimal facilities”

The entire system consists of a subsea oil production “tree” called the Pivotree that provides well and flow  control and is the structural mooring element for a “Handy-sized” floating production, storage, and offload  vessel (FPSO) called the Harvester. No other subsea elements, such as platforms, moorings, flowlines,  umbilicals, or manifolds are required.

The concept was borne out of a systematic, bottom-up examination of all functional attributes of a  hydrocarbons production system and thinking creatively about how that function could be simplified to its  minimum without compromising features or safety.

CEO Chris Merrick commented:

‘After an extended period of due diligence, we are excited to have executed the agreement with JST. Given their  long track record in the region, we believe they are an exceptional partner, and we are privileged to be working  with them.

Thailand is a core market for Pivotree. The Thai Government has made clear statements around its desire to  exploit the multiple stranded gas fields within its Territory to support the countries current energy crisis. There is  no better technology currently available in the market to help exploit these stranded assets than Pivotree. We  believe our technology combined with JST’s track record in the Thailand market, presents a strong growth opportunity for both business’

CEO of JST Group Derek Stamp, commented:

‘I am thrilled to share the exciting news of our partnership with Pivotree. Together, we are embarking on a  transformative journey. This collaboration brings forth immense opportunities for innovation and growth as we  leverage Pivotree’s expertise to shape the technology landscape in Thailand. We are excited about the potential  this partnership holds and the value it will bring to our customers. Join us as we forge ahead, delivering  exceptional solutions for our Thailand based clients.’

/// 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.