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.
No other production concept provides an economically viable path to market for oilfields under 25 MMbbl that are more than 10kms from offtake and in more than 150m of water depth in low-oil price environments.
Pivotree is at least twice as fast to first oil than any other development system in the mid-water; there is effectively no installation after completing the well. Importantly, the appraisal well is used for production, reducing time to production, and significantly improving the project NPV.
In production, Pivotree operates in the lowest cost quartile for offshore oilfields. A wide range of product compositions can be accommodated, and the small footprint means reduced fuel, consumables, and labour costs.
At the end of field life, there are no additional costs beyond plug and abandonment of the well, due to the absolute minimum subsea infrastructure. In terms of disruption to the seabed, no other system has less environmental impact.