Getech sells data about Iraq

The Leeds-based group sells exploration data to oil firms.

GETECH has announced a further sale of the Iraq aeromagnetic dataset, following the signing of an exclusive marketing agreement with the Geological Survey of Iraq in December 2010.

In a statement, Getech said: “The company announced its first sale of the full aeromagnetic dataset in July 2011, and is now pleased to report a further sale of the same dataset at the start of August 2011 with gross revenue as before in excess of $500,000.”

Professor Derek Fairhead, the president and founder of Getech, said: “This provides further evidence of the strength of interest in exploration in Iraq.

“We believe that the upcoming fourth licence round in Iraq, which involves 12 exploration blocks and for which 41 companies are reported to have been pre-qualified, will generate further interest in these datasets in whole or in part.”