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Getech clinches its largest ever new contract

8/09/2014 by

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Getech, the geoscience business specialising in the provision of data, studies and services to the oil, gas and mining exploration sectors, has won its largest ever single new contract.

This new proprietary services contract has a gross value of $5m and will be undertaken by the company's commissions division. The contract was awarded by the Angolan National Oil Company, Sonangol, which has responsibility for overseeing and managing the oil and gas exploration and production in Angola.

The aim of the project is to generate structural and related interpretations for the geological basins of Angola. The work involves a wide range of Getech's skills including gravity and magnetic data interpretation, structural mapping, plate modelling, depositional modelling, palaeogeographic reconstruction and palaeodrainage analysis. 

The project will also require the integration of large datasets including seismic and well data in order to generate a well-founded and comprehensive interpretation and framework for future exploration across the region. The work is due to start immediately and the company anticipates that most of the income will be recognised in the current financial year.

This article has been extracted from http://www.stockmarketwire.com/, please click on this link to read the article in full http://www.stockmarketwire.com/article/4881368/Getech-clinches-its-largest-ever-new-contract.html

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