SEMINAL PAPER SELECTED FOR AEP CONFERENCE AND APPEA JOURNAL

For Immediate Release

Highlights

  • A technical paper titled, “Transforming offshore field developments with Pivotree™: An innovative technology solution for fast, cost effective, and low footprint projects”, written by Pivotree’s Inventor and MD, Christopher Merrick, has been selected for presentation at the Australian Energy Producers (AEP) Conference, 20-23 May, in Perth, Australia, and publication in the Australian Petroleum Production & Exploration Association (APPEA) Journal.
  • AEP is a member-based association comprising oil and gas explorers and producers active in Australia and companies providing goods and services to those explorers and producers.
  • The APPEA Journal comprises original peer-reviewed papers in any area of the upstream petroleum industry presented at the APPEA Conference.

In 2024, the Australian Energy Producers Conference & Exhibition, formerly named the APPEA Conference & Exhibition, will be held from 20-23 May at the Perth Convention and Exhibition Centre, Western Australia. A call for papers was issued in July of 2023.

Mr Christopher Merrick, inventor of the Pivotree technology, drafted a paper abstract titled “Transforming offshore field developments with Pivotree™: An innovative technology solution for fast, cost effective, and low footprint projects” and submitted it to the AEP selection committee.

On 1-Feb 2024, Mr Merrick was advised the paper had been accepted and was invited to present the paper at the AEP Conference, formerly the APPEA Conference, in May in Perth. Papers selected are also published in the APPEA Journal, a highly respected peer-reviewed publication managed by the CSIRO Publishing, a division of CSIRO, or the Commonwealth Scientific and Industrial Research Organisation, Australia’s national science agency and one of the largest and most diverse research agencies in the world. The APPEA Journal is recognised in the upstream oil and gas industry as Australia’s leading peer-reviewed publication for information on geoscience, engineering, and business management. It has been documenting the pulse of the Australian upstream petroleum industry since its first publication in 1961.

AEP have published a list of their Business & Technical speakers here: https://energyproducersconference.au/technical-business-presenters/

The paper describes the Pivotree technology and its potential to revolutionise offshore field developments and unlock production from globally stranded oil resources. It compares traditional methods, which are expensive and complex, with the Pivotree technology, which significantly reduces upfront capital costs while maintaining essential safety and operational standards.

The paper conducts a detailed comparative analysis of activities, materials, and risks associated with various field development concepts across different reservoir characteristics. It highlights the financial benefits of the Pivotree technology through economic scenarios evaluating costs across development phases and calculating metrics like Net Present Value (NPV) and Internal Rate of Return (IRR) under various conditions of oil prices and operating expenses.

Furthermore, the paper uses Multiple-Criteria Decision Analysis (MCDA) to systematically assess and compare qualitative factors such as safety, environmental impact, and other operational attributes. A “Concept Select” process using MCDA evaluates development options against these factors, with weightings aligned to the hypothetical values and strategy of a fictional energy company.

Managing Director, Pivotree Inventor, and Co-Founder of Pivotree Pty Ltd, Mr Chris Merrick said, “The selection of this paper by the AEP underscores the pivotal role the Pivotree technology can play in reshaping the future of offshore developments. By significantly reducing costs and time to production, we are opening new opportunities for environmentally minded resource utilisation.”

He went on to say, “I’m looking forward to presenting at the AEP Conference to share how Pivotree can be a game-changer in the industry. Our technology not only aligns with today’s economic demands but also caters to the growing need for low-impact, minimum facility operations.”

About Australian Energy Producers (AEP)

Australian Energy Producers has roughly 200 members, comprising oil and gas explorers and producers active in Australia and companies providing goods and services to those explorers and producers. Its member companies produce around 95 per cent of Australia’s oil and gas. The oil and gas sector plays a fundamental role in our nation’s economy, providing essential energy to power businesses and homes in Australia and across the world. The sector invests billions of dollars to generate reliable, secure and cleaner energy, creating jobs and economic growth for the communities in which we operate. Australian natural gas is pivotal to the energy system transformation in Australia and the region, providing the firm dispatchable energy required to unlock our renewable energy potential, and powering Australian industries including those processing the critical minerals necessary for net zero. Australian Energy Producers supports net zero across the economy by 2050, consistent with the objectives of the Paris Agreement and the commitment of the Commonwealth Government.

For more information about AEP, please visit https://energyproducers.au/

About Australian Petroleum Production & Exploration Association (APPEA) Journal

The APPEA Journal comprises original peer-reviewed papers in any area of the upstream petroleum industry presented at the APPEA Conference. The APPEA Journal has been documenting the pulse of the Australian upstream petroleum industry since its first publication in 1961. It is recognised in the upstream oil and gas industry as Australia’s leading peer-reviewed publication for information on geoscience, engineering and business management.

Conference proceedings are published as a supplement to the Journal, including Extended Abstracts, PESA Reviews, Oral and Visual presentations, and plenary videos. The 2024 Technical and Business Program of the APPEA Conference is proudly sponsored by BP.

For more information about APPEA, please visit https://www.publish.csiro.au/aj

About Mr Christopher Merrick

Chris has over 20 years of experience in subsea engineering, project management, operations, asset integrity, and inspection maintenance & repair. He has experience across the entire lifecycle of offshore developments encompassing engineering, procurement, construction, installation, operations, and abandonment. He is a specialist in subsea equipment technical reliability, ensuring that facilities meet the highest standards of safety, compliance, and production availability. Chris has a Bachelors Degree in Computer Science, a Masters Degree in Oil and Gas Engineering, and a Masters of Business Administration from the University of Western Australia, is a Chartered Subsea Engineer, and Fellow of Engineers Australia.

For more information about Mr Merrick, please visit https://www.linkedin.com/in/ctmerrick78

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.

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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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