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Getech set to acquire ERCL to boost block scale evaluation offering and target NOC market

24th March 2015

Getech has announced the execution of an agreement to acquire the entire issued share capital of ERCL Limited, an upstream oil and gas consultancy

Getech has announced the execution of an agreement to acquire the entire issued share capital of ERCL Limited, an upstream oil and gas consultancy
Getech has been extending its work towards basin and block scale evaluation, where there is greater expenditure and more focus on drilling risk reduction.

Completion is scheduled for the week commencing 7 April 2015, conditional on payment of the consideration.

Getech is a geoscience business specialising in the provision of data, studies and services to the oil, gas and mining exploration sectors.

It has previously stated a strategic aim of acquiring companies with clear commercial fit and synergies, in parallel with the strategic aim of organic growth.

Getech’s market position has historically been focussed on global and regional scale work, which are relatively early in the exploration workflows.

However, Getech has been extending its work towards basin and block scale evaluation, where there is greater expenditure and more focus on drilling risk reduction.

ERCL’s skills, experience and reputation are primarily in the use and application of seismic and well data in all stages of the workflow and hence strongly complement Getech’s current capabilities and market position.

The directors believe the new combined group will be able to offer a significantly more comprehensive range of services and products, addressing exploration and development issues across a broader spectrum of client workflows. 

In particular ERCL brings to the group a proven track record of working with governments and national oil companies.

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