TGS and Thalassa in Barents Sea seismic deal

Norway’s TGS has signed an agreement with Thalassa Holdings Ltd to acquire P-Cable 3D seismic data in the Norwegian Barents Sea.

After Thalassa Holdings’ subsidiary WGP, in partnership with TGS-Nopec, completed the 2014 multi-client/proprietary survey of prospects in the Barents Sea region, the two companies now continue to collaborate on a new project to acquire data in the south east Barents Sea. This survey was performed using the P-Cable system onboard the seismic vessel ‘Bergen Surveyor’.

The new activity of acquiring P-Cable 3D seismic data will start in April 2015, and it is expected to last for 90 days.

The companies did not disclose any further details of the project.

Thalassa’s Chairman, Duncan Soukup, commented:

“We are delighted to be working with TGS again, following last year’s successful Multi-Client project, and are confident that this contract will make a meaningful contribution to Thalassa’s top and bottom line growth and should, with our other contracted orders, result in positive underlying profit for the year 2015.”

WGP’s CEO, Mark Burnett, commented:

“It is especially satisfying to receive this follow-on data acquisition contract from TGS. The Company’s commitment to the high value added P-Cable system is now bearing fruit and gives us the opportunity for growth in a particularly challenging industry environment.”

Offshore Energy Today Staff

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