Member Article

Leeds’ Getech announces $2 million contract with US oil and gas firm

Leeds’ Getech, the geoscience business specialising in the provision of data, studies and services to the oil, gas and mining exploration sectors, has announced it has won a major new contract with a total value of $2 million.

The contract is with a US oil and gas independent who is already a client.

The firm said that whilst several significant contracts were expected to be signed before the end of the current financial year, predicting the timing of these contracts remained difficult.

Raymond Wolfson, chief executive of Getech Group plc, said: “This order is from an existing Globe client and although the income had been substantially factored into our expectations, we are extremely pleased that the contract is now signed.

“We remain confident that further significant contracts will also be signed in the near future. This brings the value of new contracts signed in the period since mid-May 2014 to over $3 million and, given that much of the income will be recognised after this year, contributes to providing a sound base for the future.”

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