Getech Grp Regulatory News (GTC)

GETECH Group plc

("GETECH", "Company" or "Group")

A new satellite R & D study has been launched to improve the resolution of marine gravity data for hydrocarbon exploration.

GETECH, the oil services business specialising in the provision of exploration data and geological exploration studies and evaluations, is pleased to announce the commencement of a nine month research and development (R&D) study, funded by a number of oil companies, to develop new methodologies and techniques to integrate the CryoSat-2 radar altimeter data (LRM -Low Resolution Mode and SAR -Synthetic Aperture Radar) into the existing GETECH satellite gravity map of the Earth's oceans. The inclusion of the CryoSat-2 data will improve the quality (resolution, accuracy and reliability) of the gravity map and make such data of even greater value for oil exploration in marine areas

CryoSat-2 is only the third satellite to undertake a geodetic mission, the others being GeoSat (1985) and ERS-1 (1995). The satellite uses radar to measure the sea surface topography. The sea surface is not flat but an equipotential surface of the gravitational field of the Earth. By correcting for effects such as tides and currents, the sea surface can be transformed into the gravity field. CryoSat-2 will conduct three geodetic missions lasting until 2013, thus significantly improving the coverage of data.

The R&D study will evaluate the improvement in the quality of the gravity data over four test areas (north Brazil margin, Caspian Sea, north Colombia/Venezuela margin and Barents Sea) chosen by the study sponsors, who will provide terrestrial gravity data for comparison purposes. This R&D study costs £15,000 per sponsor and GETECH currently has six companies in the process of sponsoring the study with additional oil companies showing interest in joining. It is intended that a successful outcome of this study will lead in early 2013 to a full scale study to map the Earth's Oceans out to 500km from the coast lines.

Professor Derek Fairhead, President and Founder of GETECH, commented "We believe this R&D study and follow on programme is an integral part of our strategy of keeping GETECH at the forefront of data provision. The majority of major oil companies already have GETECH satellite derived gravity data, and we regard it as very important to be in a position to continue to provide them with the highest quality data possible."

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