Karachi, Pakistan — January 20, 2025 — FiveRivers Technologies (Pvt.) Limited is proud to announce the signing of a Memorandum of Understanding (MoU) with the Petroleum Institute of Pakistan (PIP), marking a pivotal step toward advancing innovation and operational excellence in the petroleum sector. This strategic collaboration aims to modernize industry practices by leveraging the cutting-edge capabilities of FiveRivers’ Helion platform, an advanced AR/VR solution tailored for the energy industry.
The partnership between FiveRivers Technologies and PIP focuses on delivering transformative AR/VR solutions to enhance safety training, facilitate remote collaboration, and enable immersive design reviews for the petroleum industry. The Helion platform’s diverse capabilities, including digital twin technology and real-time equipment monitoring, will provide PIP’s member companies with innovative tools to optimize their operations and achieve higher standards of efficiency and safety.
Commenting on the collaboration, Shoaib Siddiqui, CEO of FiveRivers Technologies, stated:
"We at FiveRivers Technologies are thrilled to embark on this groundbreaking collaboration with the Petroleum Institute of Pakistan. This partnership underscores our commitment to leveraging cutting-edge AR/VR technologies, like our Helion platform, to revolutionize safety training, operational efficiency, and innovation in the petroleum sector. Together, we aim to set a new standard for technological integration in the industry, fostering enhanced collaboration, safety, and decision-making across the board."
Shehryar Omar, Chief Executive Officer of the Petroleum Institute of Pakistan, added:
"This MoU marks a significant milestone in our journey to modernize the petroleum sector in Pakistan. By partnering with FiveRivers Technologies, we are bringing world-class AR/VR solutions to our member companies, enabling them to adopt innovative practices and embrace the digital transformation of the industry. We are confident that this collaboration will not only enhance operational safety and efficiency but also set a precedent for future technological advancements in the sector."
The MoU outlines a shared vision for business generation and technological advancement. Through Helion, member companies of PIP will gain access to a robust set of tools for creating virtual plant walkthroughs, visualizing complex 3D seismic data, and simulating emergency response scenarios such as fire evacuations or chemical spills. These capabilities are set to transform traditional methodologies into cutting-edge practices, ensuring safer and more efficient operations.
Key objectives of the partnership include:
- Safety Enhancement: Introducing immersive AR/VR safety training solutions.
- Enhanced Collaboration: Enabling remote meetings and real-time collaborative sessions via the metaverse.
- Expanded Use Cases: Incorporating digital twins, virtual design reviews, and data visualization into daily operations.
- Revenue Generation: Facilitating customized value-added solutions for member organizations.
The MoU, which has an initial term of three years, demonstrates a mutual commitment to exploring the vast potential of AR/VR technology while driving measurable economic benefits for the petroleum industry.
About FiveRivers Technologies:
FiveRivers Technologies is a leading provider of innovative technology solutions, with expertise in developing state-of-the-art AR/VR platforms, including Helion. The company is committed to empowering industries with modern tools that enhance safety, efficiency, and collaboration.
About Petroleum Institute of Pakistan (PIP):
The Petroleum Institute of Pakistan is a distinguished organization dedicated to advancing Pakistan’s energy sector through collaboration, research, and the implementation of cutting-edge technologies.
Media Contact:
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Source: FiveRivers Technologies (Pvt.) Limited.
