GETECH signs Russian Arctic Shelf magnetic data set licence

GETECH, an oil services business specialising in the provision of exploration data and geological exploration studies, has announced a major further licence from its library of global gravity and magnetic data.

The company has now signed a further licence for its Russian Arctic Shelf magnetic data set with a gross sales value of $1.28m (£821,000).

According to GETECH, the Russian Arctic Shelf is a major under-explored area that is still in the early stages of exploration for oil and gas due to its harsh climate conditions and high exploration/production costs.