Mermaid, PTTEP subsidiary form subsea joint venture

Sept. 18, 2020
Mermaid Subsea Services (Thailand) is forming a joint venture with AI and Robotics Ventures Company, a subsidiary of EP-Tech Ventures Holding Company owned in turn by Thai state oil company PTTEP.

Offshore staff

BANGKOK, Thailand – Mermaid Subsea Services (Thailand) is forming a joint venture with AI and Robotics Ventures Company (ARV), a subsidiary of EP-Tech Ventures Holding Company owned in turn by Thai state oil company PTTEP.

ZeaQuest will develop robotics and artificial intelligence technology to support subsea engineering services.

Chalermchai Mahagitsiri, CEO of Mermaid Maritime, said: “In the initial phase, ZeaQuest plans to use these technologies in inspection, repair and maintenance, infrastructure installation support, and subsea engineering services for national oil and gas corporates in Southeast Asia, and later expand these services to the Middle East and the rest of the world.”

Dr. Thana Slanvetpan, general manager of ARV, added: “ARV is developing cutting-edge technologies including an Inspection-class autonomous underwater vehicle (Xplorer), a subsea flowline control and repair robot (Nautilus), and software and data analytics technologies utilizing Internet of Things (IoT) which we aim to commercialize by 2021.”

09/18/2020