Getech seals major Russian Arctic contract

LEEDS-based oiL exploration company Getech today revealed that it had secured a significant contract in connection with the Russian Arctic.

Getech has announced a licence deal from its library of global gravity and magnetic data.

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It has signed a further licence for its Russian Arctic Shelf magnetic data set, with a gross sales value of $1.28m.

Getech’s chief executive Raymond Wolfson, said: “We are very pleased with this third licence from our Russian Arctic Shelf magnetic dataset.

“In recent years there has been an increase in the number of international oil companies establishing strategic links with Russian companies, which suggests there will be a continuing and active interest in exploration in Russia.”