Business
Statoil Contract Execution
Statoil Contract Execution.
About this update from Thalassa Holdings Ltd
[{"type":"text","content":"\n \nRNS Number : 2301D Thalassa Holdings Limited 25 April 2013 \n \n\n25 April 2013\n \nThalassa Holdings Ltd\n \n(Reuters: THAL.L, Bloomberg: THAL:LN)\n \n(\"Thalassa\" or the \"Company\")\n \nStatoil Contract Execution\nThe Board of Thalassa is pleased to confirm that, further to the Company's announcement on 27 February 2013, the final contract between its WGP subsidiary and Statoil ASA has been executed. \nThe contract relates to the provision by WGP of long term seismic acquisition services for permanent reservoir monitoring of the Snorre and Grane oil fields in the Norwegian sector of the North Sea for up to approximately US$65 million, and the supply of a bespoke dual portable modular source system (\"D-PMSS™\") for approximately US$19.8 million, \nThe first survey remains scheduled to commence on 1 October 2013 over the Snorre field.\nContacts: \nThalassa Holdings Ltd: \nDuncan Soukup, Executive Chairman +33 (0)6 78 63 26 89\nWH Ireland Limited (Nominated adviser): \nChris Fielding, Head of Corporate Finance 020 7220 1650\nwww.thalassaholdingsltd.com\n \nNotes to Editor:\n \nThalassa Holdings Ltd, incorporated and registered in the BVI and quoted on AIM, is a holding company with a focus on marine seismic operations. The corporate strategy for the Group is \"Exploration and Beyond\". \"Exploration\" is focused on activity in frontier and challenging locations, whilst \"Beyond\" focuses on production activity by looking to secure opportunities in the permanent reservoir monitoring market. Thus activity and focus will be dominated by projects in remote and challenging frontier locations, coupled with lower risk projects in mature producing regions.\n \nAlongside the technical expertise and consultancy in marine seismic operations provided through its subsidiary, WGP, the Group owns and opera...