GETECH Group plc - New Russian marketing agreements for geoscience data
18 Jun 2008
GETECH, the oil services business specialising in the provision
of exploration data and
petroleum systems studies and evaluations, is pleased to announce
the signing of two new marketing agreements for data and studies
covering various regions of the Former Soviet Union.
These build on agreements previously announced for the exclusive
marketing of the Russian
Arctic shelf aeromagnetic data and Russian Arctic base-line
environmental geochemical studies. The new agreements relate
to:
* Russian Arctic
petroleum studies: will generate new oil and source rock
geochemistry databases covering four onshore and offshore Arctic
basins: Pechora (East Barents), Kara, Laptev and East Siberia Seas.
The absence of offshore wells in the last two areas means that
these studies will provide some of the only petroleum systems
geochemistry data available.
* Aeromagnetic studies:
will generate aeromagnetic data sets covering a range of
petroleum basins within the Former Soviet Union which will enable
oil companies to regionally evaluate basin geometries, depths to
basement and structure to a degree not previously possible.
Professor Derek Fairhead, Executive Chairman, commented: "These new agreements build on our successful commercial links initiated two and a half years ago. They expand the range of products we are able to offer over the Russian Arctic shelf and extend our marketing to include aeromagnetic datasets covering important oil basins onshore the Former Soviet Union. These data will allow oil companies to access previously inaccessible geochemical and geophysical data to allow them to better evaluate the petroleum systems and basin architecture. Such Agreements help to reinforce GETECH's position as one of the leading providers of exploration data to the world's oil industry."
The new datasets resulting from these agreements are planned to
become available during
the second half of calendar year 2008.
For further information, please contact:
GETECH Group plc
Derek Fairhead,
Executive Chairman 0113 322 2200
Raymond Wolfson, Chief Executive 0113 322
2200
WH Ireland Limited
Richard
Lindley
0113 394 6628
