Pivotree Appoints Exclusive Agent for Malaysia, Indonesia, Brunei & Singapore

For Immediate Release

Highlights

  • Agreement secured with South Seas Offshore Sdn Bhd, an associate company of OLIO GROUP.
  • SSO will exclusively promote the PIVOTREE technology in Malaysia, Indonesia, Singapore and Brunei.
  • Olio Group is a 100% Malaysian company with over 25 years’ experience servicing the region.

Oil and Gas technology company Pivotree (or the “Company”) is excited to join forces with OLIO GROUP associate company, South Seas Offshore (“SSO”) to significantly expand its efforts in the Southeast Asian region. SSO will build on the momentum already gained with several Malaysian operators.

OLIO GROUP, led by Executive Chairman, Dato Ramli Md Nor, established in 1995, has a strong reputation and long track record delivering sustainable solutions in Drilling & Oilfield Services, Well Services, Process, M&E, Industrial Cleaning, Floating Facilities, Water Production and Treatment Systems. SSO is Olio’s vehicle for agency partnerships and will lead efforts.

Under the Agreement, SSO will exclusively market the PIVOTREE technology in Malaysia, Indonesia, Singapore and Brunei. The Agreement does not provide for a minimum term and will continue in perpetuity.

Pivotree CEO, Chris Merrick, commented: “We are thrilled about this partnership with OLIO GROUP. The clear synergy between our companies makes this an excellent strategic fit.

Malaysia is PIVOTREE’s third biggest market by volume and a strategic priority for our business given its proximity to Australia and the strong government support to increase oil and gas production, especially through the development of “Discovered Resource Opportunities” (DROs). In a recent bid round, the Malaysian regulator promoted 200 such DROs, 80 of which are stranded oil reserves.

By combining PIVOTREE’s innovative technology with SSO’s robust regional network and expertise, we are set to create mutual benefits and significantly impact the oil and gas sector in Southeast Asia.”

OLIO GROUP Executive Chairman, Dato Ramli Md Nor commented: “We are equally excited about our partnership with PIVOTREE. Our firm belief in the technology has even prompted us to make a strategic investment. Operators of uneconomically feasible/stranded fields can now re-strategise their production development plans by taking advantage of PIVOTREE’s significant reduction in CAPEX/OPEX, deployment time, and environmental impact.”

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 South Seas Offshore (an OLIO GROUP company)

South Seas Offshore Sdn Bhd is an associate company of OLIO GROUP, a 100% Malaysian Services Company with over 25 years of experience in Oil & Gas, and a registered self-operator with Petronas and fully licensed for various SWEC codes applicable to upstream and downstream industries, including drilling, well and oilfield services, and floating solutions.

For more information about South Seas Offshore and OLIO GROUP, please visit www.olio.group/

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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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