Getech study to aid Arctic oil exploration
OIL exploration in the Russian Arctic could soon go ahead following the anticipated publication of an environmental baseline study by Leeds-based firm Getech.
The study, developed from geochemical sea bed data, will enable oil firms to establish the environmental state of areas of interest prior to any exploration and extraction.
It will also allow them to report on the environmental impact of any activity and how they plan to minimse it.
“This new agreement represent one of the several Arctic oil exploration products currently under discussion with our Russian partners,” said a Getech spokesman.
Getech was founded in 1986 by Leeds University academic Dr Derek Fairhead as a research enterprise specialising in the provision of gravity and magnetic data and related management and interpretation services to the oil and mining exploration industry.
In 2000 it was officially formed as a university spin-out and floated on the London Stock Exchange five years later.
It employs more than 20 people plus independent consultants worldwide and has offices in Leeds, Houston in Texas and Singapore.
The company specialises in providing gravity and magenetic data and related management and interpretation serives to the international and mining exploration industry.
