Mermaid and ARV forge subsea alliance in Thailand
AI and Robotics Ventures (ARV), a subsidiary of PTT Exploration and Production, and Mermaid Subsea Services (Thailand) have formed a joint venture called ZeaQuest to develop subsea AI and robotic technologies.
The aim is to provide underwater IRM services to oil & gas and renewable energy sectors in Asia and globally.
ZeaQuest has a registered capital of $5 million and a 50-50 ownership ratio in the joint venture between the companies.
Dr. Thana Slanvetpan, general manager of AI and Robotics Ventures, said:
“ARV specializes in research and development of AI and robotics technologies for petroleum exploration and production and non-E&P industries.
“This partnership between Mermaid and ARV is a critical milestone in the utilization of highly complex AI and robotics technologies in surveillance, inspection, repair and maintenance of subsea infrastructure and equipment.”
Slanvetpan also said that ARV is currently developing an inspection-class autonomous underwater vehicle or Xplorer.
In addition, ARV is working on a subsea flowline control and repair robot called Nautilus, and analytics technologies utilising IoT.
Finally, the aim is to commercialise these technologies by 2021.
Slanvetpan believes ZeaQuest will add values to ARV and Mermaid, as well as the E&P industry, and benefit Thailand’s economy.
Chalermchai Mahagitsiri, chief executive officer and vice executive chairman of Mermaid, also said:
“The partnership between Mermaid and ARV is a significant strategic move that will uplift Mermaid’s subsea services to be more efficient, by deploying robotics and AI technologies developed by ARV.
“In the initial phase, ZeaQuest plans to use these technologies in the IRM, infrastructure installation support, and subsea engineering services.”
He noted the JV will first target Southeast Asia, and later expand these services to Middle East and worldwide.