13th Apr 2015 06:20
LONDON (Alliance News) - Geoscience services company Getech Group PLC on Monday said it has signed a "significant" contract with an unnamed national oil company.
The contract, for which Getech did not provide any financial details, is for a three-year initial period with an option for it to be extended for a further two years.
Under the deal, Getech will be one of three companies contracted by the client to provide basin evaluation services.
"We previously announced that the strategy in relation to our Commissions division was to continue to build the regular range of consultancy projects, but also to focus on a number of key clients who, individually, could be material to Getech's trading," said Getech Chief Executive Raymond Wolfson.
"In the second half of 2014, we announced two such contracts and this third contract represents a further success for our stated strategy, in what is currently a very challenging marketplace," Wolfson added.
By Sam Unsted; [email protected]; @SamUAtAlliance
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