Bangkok, August 17, 2020 – AI and Robotics Ventures Company Limited (ARV), a subsidiary of PTT Exploration and Production Public Company Limited (PTTEP), and Mermaid Subsea Services (Thailand) Ltd (MSST), a subsidiary company of Mermaid Maritime Public Company Limited or Mermaid, has formed a joint venture, “ZeaQuest Company Limited”, in order to develop AI and robotic technologies to provide underwater inspection, repair and maintenance services to oil & gas and renewable energy sectors in Asia and globally.
ZeaQuest Company Limited has a registered capital of USD 5 million (equivalent to THB 155 million) and a 50-50 ownership ratio in the joint venture between MSST and ARV. The company aims to be an internationally renowned leader in subsea services utilizing AI and Robotics technology.
Dr. Thana Slanvetpan, General Manager of AI and Robotics Ventures Company Limited (ARV), mentioned “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. These innovative technologies are invented to serve businesses across the globe, through Mermaid’s robust customer base. Moreover, ARV is developing cutting-edge technologies including an Inspection-class Autonomous Underwater Vehicle or “Xplorer”, a Subsea Flowline Control and Repair Robot or “Nautilus”, and software and data analytics technologies utilizing Internet of Things (IoT) which we aim to commercialize by 2021. Therefore, the “ZeaQuest” joint venture will definitely add values to both ARV and Mermaid, as well as the E&P industry, and benefit Thailand’s economy as a whole.”
Chalermchai Mahagitsiri, Chief Executive Officer and Vice Executive Chairman of Mermaid Maritime Public Company Limited or Mermaid said “Having served the offshore service industry for over 30 years with operations spanning from Singapore, Indonesia, Qatar, Saudi Arabia, United Arab Emirates, United Kingdom, etc., Mermaid covers a comprehensive range of subsea solutions including subsea vessels, subsea engineering, remotely operated vehicle (ROV), as well as offshore drilling. With a proven track record and comprehensive services, Mermaid has gained trust from its customers across the globe. What our customers expect from us are cutting-edge technologies and competent personnel. Therefore, 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 inspection, repair & maintenance (IRM), infrastructure installation support, and subsea engineering services for national oil and gas corporates in Southeast Asia, and later expand theses services to Middle East and the rest of the world.”