Companies

GETECH Group

Overview

GETECH Group is an oil services business that provides data, studies and implementation services to the oil and gas sector. It is also moving into mining data and services but oil and gas companies are still the key customer base. GETECH was formed in 1986 by Derek Fairhead, who is still an executive director and 32% shareholder. It was originally founded as part of the University of Leeds and transferred to a company owned by the university in 1992. In 1996 GETECH formed a business in Houston, Texas and made an acquisition in Houston in 1999. The company's management bought out the business from the university in 2000. GETECH analyses gravity data given to it by major oil companies. They will also pay towards the study by acquiring the resulting report. GETECH has the rights to market the data and may pay royalties or revenue share with the data provider. Customers include Shell, BP and ExxonMobil. The group has developed a strong reputation as data providers and consultants. GETECH is the largest source of commercially available gravity and magnetic data. The data library covers most countries in the world. The US is the main area missing. The petroleum systems evaluation group was started in 2004. This area of the business provides studies that analyse petroleum systems in various parts of the world. The studies show the sources of material that causes oil and how that oil has been transported and trapped. This division is now split into five different specialist geological teams. The data and studies helps the oil companies to improve the targeting of prospects, adds exploration opportunities and reduces exploration risk. GETECH floated on Aim in 2005.

Sector: Industrial

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