Mermaid Subsea Services will fund the deal via its internal cash flow.
He added that in the initial phase, ZeaQuest plans to use these technologies in the inspection, repair & maintenance, infrastructure installation support, as well as subsea engineering services for national oil and gas corporates in South-east Asia. The JV intends to expand these services to the Middle East and the rest of the world subsequently, Mr Mahagitsiri said.
"This partnership between Mermaid and ARV is a critical milestone in the utilisation of highly complex AI and robotics technologies in surveillance, inspection, repair and maintenance of subsea infrastructure and equipment," added Mr Slanvetpan.
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