Petroleum Africa
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Wednesday, September 10, 2014
UK firm Getech has entered into a deal with Angola’s state-run oil firm Sonangol, worth £3 million. The contract involves creating structural interpretations of the geological basins in the country.
The work will involve a wide range of Getech’s technical skills including gravity and magnetic data interpretation, structural mapping, and plate modeling. It also involves integrating large datasets to generate a comprehensive map for future exploration across the region.
The work is due to start immediately and Getech anticipates that most of the income will be recognized in the current financial year.
Raymond Wolfson, chief executive of Getech, said: “This is an excellent start to the year and gives confidence that the company will meet the current year market forecasts.This contract represents our largest proprietary project to date. Such contracts are only feasible because we have built a large team of geoscientists, many of whom are specialists in the particular disciplines required and who can integrate their disciplines into our Globe exploration platform.”
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