Member Article

Leeds’ Getech secure largest ever contract worth $5 million

Leeds-based Getech, the geoscience firm which supplies the oil, gas and mining exploration sectors, has announced its largest ever new contract win, worth $5 million.

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 the Republic of Angola.

The work is due to start immediately and the Company anticipates that most of the income will be recognised in the current financial year.

Raymond Wolfson, chief executive of Getech Group plc, said: “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.

“This is an excellent example of how the Globe framework provides a robust starting point for projects, contributing immediate value to work at a wide range of scales.

“It is also exactly the type of project that fits the skill base we have built. We have already indicated that we see consultancy and proprietary projects as a growth area and in 2013 set up the Commissions Division to manage and build this business stream.

“This new contract is an illustration of our future ambitions.”

This was posted in Bdaily's Members' News section by Clare Burnett .