Getech wins contract to carry out study on UK continental shelf

Shares rose in Getech Group, a provider of natural resources exploration data, as it announced it has won a contract from the Oil and Gas Authority (OGA) for a petroleum system related study of the UK continental shelf's South West Approaches region.

The contract win comes on the heels of the publication of the Wood Report for Oil and Gas which said that the government and the oil and gas industry should have a current and easily accessible digital record of the geology and prospectivity of the continental shelf region, and so the 21st Century Roadmap Technical Advisory Committee was set-up to support this and promote investment in the frontier regions.

The 21st Century committee includes representation from BP, Chevron, Dong, Engie, Hurricane Energy, Maersk Oil and Shell.

Simon Campbell, head of gravity and magnetic solutions for Getech, said; "Getech's unique compilation of gravity and magnetic data over western Europe, combined with our industry leading multi-sat solution offshore, is being used to enhance the understanding of the crustal architecture of the region.

“With a focus on the UK SW approaches we will combine calculated depth-to-basement and crustal thickness with structural analogues along the Variscan front through western Europe to help identify potentially prospective areas."

Nick Richardson, OGA head of exploration and new ventures, added that "these projects represent the initial phases of more extensive regional mapping projects to drive exploration across the UK continental shelf”.

Shares in Getech Group were up 7.47% to 44.60p at 0916 GMT.