WGP to Provide Seismic Source for BP's Valhall Field

BP Norge AS and operating partners (Hess Norge AS, Norske Shell AS and Total Norge AS) of the Norwegian North Sea giant Valhall oilfield has contracted WGP to operate and Thalassa to procure and supply the on-going seismic source service for their LoFS project that has been providing 4 Component (4C), time lapse 3D (4D) seismic data since 2003 with an average of 2 surveys per year.

The Valhall field lies in Norwegian waters, Blocks 2/8 and 2/11, with a production life estimated until 2050 but, due to the fragility of the chalk reservoir, is highly complex to manage. The Valhall LoFS program is designed to support the water injection program, to improve recovery rates by optimizing the placement of production wells, to reduce the cost of drilling new wells and to identify upside opportunities.
120km of OYO Geospace Ocean Bottom Cable (OBC) was trenched in 2003 above the reservoir creating a survey area of 45km2 over which a portable seismic source installed on a Platform Supply Vessel is used to provide seismic data acquisition. The next repeat survey is scheduled for July 2010, with two consecutive surveys per year planned until year-end 2013. The contract incorporates the acquisition of the portable seismic source system by Thalassa Energy Services Ltd and as such it will be available for additional work in the North Sea.

WGP CEO Mark Burnett commented, "Following a rigorous competitive tender process, WGP is extremely pleased to be awarded the contract for the provision of seismic data acquisition services for the Valhall LoFS project. The pioneering application of OBC technology for reservoir monitoring applications is providing real value to subsea management teams to enable Enhanced Oil Recovery. The contract builds on WGP's strategic aim together with its investment partner, Thalassa, to develop its capability and experience for the delivery of Life of Field Seismic. We look forward to meeting and exceeding the expectations of BP by providing a safe, technically excellent and cost effective service."

Further, Thalassa Energy Services Chairman, Mr. Duncan Soukup, commented, "We are truly excited about this opportunity, with the procurement of the BP containerized seismic source system which will complement Thalassa's existing Portable Seismic Source System (PMSSTM) and enable us to collaborate together with WGP in this groundbreaking project. Thalassa entered the oilfield services sector in 2007, specifically to acquire marine seismic equipment for Life of Field Seismic projects, and has remained pragmatic that the market would recover in line with a stabilizing oil price. The award of the Valhall LoFS project demonstrates that activity and opportunities are now increasing and we look forward to building on this initial project with additional contracts in the future."