Russian products deal for Getech

The Leeds-based firm said several major oil companies are now making enquiries about Russian products.

The first of these, from a major North American oil company, led to a $330,000 (£203,000) deal, a share of which goes to the supplier of the products).

Getech provides complex geological and geophysical data to help oil companies such as Shell, BP and Exxon Mobil to decide where to sink new wells.

Today Professor Derek Fairhead, president and founder of Getech, said: “I believe this first sale in 2011 reflects the increased international interest in exploration activity in this relatively stable part of the world.

“This agreement, together with the exclusive marketing agreement for Iraq data (announced on 20 December 2010), reinforces Getech’s position as one of the leading providers of exploration data to the world’s oil industry.”