Getech Grp Regulatory News (GTC)

Getech Group plc

("Getech" or the "Company")

OGA 21CXRM Contract Win

Getech, providers of natural resources exploration data and information expertise, has been awarded a contract by the UK's Oil and Gas Authority ("OGA"), in collaboration with the 21st Century Roadmap Technical Advisory Committee ("21CXRM"), for a petroleum system related study of the United Kingdom Continental Shelf ("UKCS") South West Approaches region.

A key finding of the Wood Report for Oil and Gas was 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 UKCS. To support this objective, the 21CXRM was set-up to support technical assurance in mature areas and promote investment into frontier regions.

The committee is led by the OGA and includes industry representation from Azinor Catalyst, BayernGas, BP, Chevron, DONG, ENGIE, Hurricane Energy, Maersk Oil, Shell and Siccar Point Energy. Their role is to award contracts and develop a collaborative framework to enable the UK exploration and production community to meet the Wood Report's recommendations.

Simon Campbell, Head of Gravity and Magnetic Solutions for Getech, explains; "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."

The contracts, such as the one recently awarded to Getech represent the start of a much longer project. Nick Richardson, OGA Head of Exploration and New Ventures, went on to explain that; "these projects represent the initial phases of more extensive regional mapping projects to drive exploration across the UK Continental Shelf."

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Notes to Editors:

Getech is a leading AIM-listed supplier of products and services to the energy and natural resources industries. The Group uses its core geoscience and geographic information systems (GIS) skills to help a wide range of companies and governments gain a competitive commercial advantage through improved decision making and enhanced operational efficiency.

For more information, please visit our website at www.getech.com.

This update refers to a contract in the ordinary course of business for Getech