WGP to begin North Sea shoot in April

Marine seismic services provider WGP Group, a subsidiary of Thalassa Holdings, has been preparing to mobilize for its 2017 Spring North Sea projects.

WGP’s parent company said on Tuesday that preparations are now well underway with operations anticipated to start during April, as scheduled.

The company did not reveal any further details about its spring campaign in the North Sea. However, at the end of last year WGP was awarded a contract from ConocoPhillips for seismic data acquisition on the Eldfisk field in the North Sea.

The companies agreed to begin the shoot in the second quarter of 2017 with the duration expected to be at around two months.

Eldfisk is an oilfield that also contains some gas, discovered in 1970, approved for development in 1975, and started production in 1979. It is the second largest of three producing fields in the Greater Ekofisk Area and one of the largest on the Norwegian continental shelf.

Previously, WGP in December 2015 entered into a contract to provide long-term seismic acquisition services to ConocoPhillips. The contract had an initial five-year term.

Also, Thalassa added on Tuesday that it anticipates that WGP’s 2017 revenue from seismic operations will be between $15 and $16 million, up by 30-40% as compared to corresponding estimated revenue of $11.6 million for 2016, assuming there are no cancellations or significant adverse weather conditions.

Offshore Energy Today Staff

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