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Thalassa Holdings Ltd

  • BY: Andrew Hore |
  • POSTED: 11/06/2012 |

Marine seismic services provider Thalassa Holdings Ltd says that it already has contracted revenues of $15m for 2012 thanks to last year’s acquisition of WGP.

Work has already started on the major contract in the Arctic to provide seismic data to State Sevmorgeo Company in Russia. The BP Valhall life of field survey will be complete by the end of June. PRM Consultancy has started permanent reservoir monitoring feasibility studies.

Shares in Thalassa jumped 19p to 48.5p a share, which values the company at £4.72m.

Thalassa has set up a joint venture with P-Cable 3D Seismic AS. The joint venture will commercialise P-Cable’s 3D seismic technology. It is believed that the technology will be attractive for companies involved in the North Sea. The first contract has been secured with Norway-based Spring Energy.

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