Saudi Aramco has partnered with Japanese startup Terra Drone to inspect its oil and gas facilities using drones, robotics and artificial intelligence (AI).
The memorandum of understanding will advance drone technologies to enhance safety and operational efficiency in the energy sector, Terra Drone said in a statement.
Note that Terra Drone, in 2023, received $14 million in funding from Wa’ed Ventures, the venture capital arm of Saudi Aramco.
Following the investment, it established a branch in Saudi Arabia, aiming to localise its services in the short term, establish local research and development, as well as set up production facilities in the long term.
Terra Drone is expected to commence operations in 2027, CEO and founder Toru Tokushige told Reuters.
“We’re aiming for billions of yen in sales over the medium to long term, three to five years,” he said.
Terra Drone, which was listed on the Tokyo Stock Exchange Growth Market 250 Index in November 2024, is yet to turn profitable, the report said.
