Getech, a world-leading locator of subsurface resources, today announced the signing of three contracts for Globe, worth together over £0.8 million over the next three years, of which £381k relates to the current financial year. These contracts represent significant additions to the Group's existing orderbook, which now stands at £4.2 million.

Globe is Getech's proprietary digital platform of earth science data that facilitates the exploration and location of subsurface resources that are vital for the energy transition, including carbon storage, geothermal, natural hydrogen and critical mineral assets.  Globe is an innovative product that collects geoscience and earth observation data, and through proprietary computational modelling and AI led machine learning techniques, identifies favourable exploration opportunities for our customers.

Two of these contracts represent a one-year extension of Globe subscriptions for our existing clients: a leading European oil and gas supermajor and a respected global energy company. The third contract marks the introduction of a new client into our portfolio, securing a three-year Globe subscription for an Asian oil and gas company.

Richard Bennett, Getech Executive Chairman, commented:
"The Company continues to service and expand its long-standing oil and gas client base as these contracts show, enabling our clients to search for new resources far more efficiently and by doing so, significantly reduce their exploration costs.

Alongside this, we are also continuing to develop new income streams from outside of the oil and gas sector. Both countries and companies alike are investing significantly to locate and secure high demand subsurface assets critical for the energy transition. Globe has the data to support these new searches and we are working with prospective clients to re-purpose our data, software and analytics to identify critical minerals (such as copper and lithium) and ideal locations for geothermal, hydrogen and carbon capture and storage (CCS) projects."

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