PTTEP and Mermaid Subsea Jointly Establish “Zeaquest” to Develop AI for Underwater Probe

PTT Exploration and Production Public Company Limited (PTTEP) announced that AI and Robotics Ventures Company Limited (ARV) (a subsidiary of PTTEP) and Mermaid Subsea Services (Thailand) Company Limited (a subsidiary of Mermaid Maritime Public Company Limited) have set up a new joint venture company under the name of Zeaquest Co., Ltd. in order to develop AI and robotic technologies to provide underwater inspection, repair and maintenance services to oil & gas and renewable energy corporates operating in offshore businesses in Asia and globally, with a registered capital of 155 million Baht and equal shareholding at 50% by both ARV and Mermaid Subsea Services (Thailand) Company Limited. 

The objective of the joint venture is to be an internationally renowned leader in inspection, repair and maintenance services using AI and robotic technology. The new joint venture company is expected to complete the registration within September 2020.

 

The establishment of this joint venture is in line with the company’s strategy of expanding investment into new businesses through the use of technology and innovation to enhance efficiency and create long-term sustainability.