PTTEP’S AI AND ROBOTICS VENTURES SET TO REVOLUTIONIZE INDUSTRIES THROUGH INNOVATIONS
27 MAY 2019
Bangkok, May 17, 2019 – PTT Exploration and Production Public Company Limited (PTTEP) unveils AI and Robotics Ventures Company Limited (ARV) to provide cutting-edge Artificial Intelligence and Robotics services and accelerate research and technology development for enhancing business efficiency across industries. The company is set to take part in driving the country’s economy through innovations.
“ARV is a significant milestone for PTTEP’s new business investment strategy to foster sustainable growth while addressing the changing era of digital transformation. ARV service builds upon PTTEP’s specialized technologies in petroleum exploration and production activities which have proven to enhance the company’s competitive capability. Through ARV, the expertise will also become available to support other industries outside the energy sector to boost efficiency and business value,” said Phongsthorn Thavisin, PTTEP President and Chief Executive Officer.
ARV’s first three-year (2019-2021) investment is approximately 1.6 billion baht with an aim to be a leading AI and Robotics company in South East Asia’s within 3-5 years.
“ARV’s long-term goal is to become an integrated platform for continuous development in cutting-edge AI and robotics. We focus on collaborating with partners from both academic and industrial sectors including high potential start-ups to create innovative solutions and build a workforce that fits the needs of business today and in the future,” said Dr. Thana Slanvetpan, ARV General Manager.
One of ARV’s latest technologies developed alongside its Norwegian partner is the world’s first remotely-operated Subsea Flowline Control and Repair Robot (SFCR) capable of performing inspection, repair and maintenance tasks on underwater petroleum pipelines. The robot is expected to cut repair cost by half, requires less time to deploy and also minimizes human’s exposure to dangerous operations.
The application of ARV services and developing technologies ranges across air, sea and land. The company’s pioneered AI & Robotic solutions include an Inspection-class Autonomous Underwater Vehicle (IAUV) for preventive inspection of underwater facilities such as petroleum pipelines and platform structures without requiring a support vessel or a large number of supporting crew; an In-pipe Inspection Robot (IPIR) for examining inside petroleum pipelines and providing a 3D visual profile for better predictive maintenance; and an Unmanned Aerial Vehicle (UAV) for inspecting facilities at height, generating aerial images, and surveying agricultural land to help analyze and improve productivity.
“AI and Robotic technologies help business overcome conventional restrictions and bring about new advantages including reduction in operation time and cost, increase in precision and agility due to their ability to process, analyze and make decision. These technologies also offer personnel safety benefits by operating in potentially-risk areas. Creativity in software design also makes possible diverse applications. The potential is therefore infinite,” Thana added.
Examples of intended-function software include the on-going development of UAV for Smart Farming in partnership with an agricultural business, and a successful development of Swarm Drones Technology in collaboration with the Radio Control Airplane Modeler Sport Association (RCSA) which was the first by Thais and in South East Asia.
AI and Robotics Ventures Company Limited (ARV) is wholly-owned by EP-Tech Ventures Holding Company Limited, a subsidiary of PTTEP. ARV office is located at Bhiraj Tower, South Sathorn Road, Bangkok. www.arv.co.th