Business
Memorandum of Understanding
Memorandum of Understanding.
About this update from Getech Group Plc
[{"type":"text","content":"\n GETECH Group plc\n07 November 2005\n\nMonday 7 November 2006\n\n\n\n\n\n\n GETECH Group Plc\n\n Memorandum of Understanding\n\n with\n\n The Development Research Center of the\n\n China Geological Survey\n\n\n\nGETECH Group Plc ('GETECH' or 'the Company'), the oil services business\nspecialising in the compilation and analysis of gravity and magnetic data, is\npleased to announce that the Company has signed a Memorandum of Understanding \n('MOU') with The Development Research Center of the China Geological Survey \n('CGS').\n\n\n\nCommencing in 2006, GETECH will act on behalf of the CGS to market, outside of\nChina, their geological, geochemistry and geophysical data, in Geographical\nInformation System ('GIS') format at data resolutions to be agreed. Until now,\nthese data have not been previously available, even within China.\n\n\n\nGETECH has a long standing and commercially beneficial relationship with the\nCGS, having jointly completed a major aeromagnetic compilation study of China\nwith one of its divisions, the Aero Geophysical Survey & Remote Sensing Center\n('AGRS') in the mid 1990's. GETECH geophysicist, Kaxia Lei managed this three\nyear study, in Beijing, which involved a work force of ten geophysicists from\nAGRS. GETECH continues to market this aeromagnetic data to the oil and mineral\nindustries.\n\n\n\nBesides the MOU allowing GETECH to market the CGS data, it allows available\nexchanges of personnel and will promote the undertaking of joint studies of\nmutual scientific interest.\n\n\n\nCommenting on this news, Managing Director of GETCH, Professor Derek Fairhead\nsaid:\n\n\n\n'The signing of this MOU is a significant strategic development for GETECH as it\nacknowledges the close links we have developed with CGS in previous years.\nAccess to these data will allow GETECH to continue to expand and diversify its\ncommercial geoscientific library, which currently holds the most extensive\ncommercial collection of gravity and magnetic data in the world.'\n\n\n\nFor further information, please contact:\n\n\n\nBuchanan Communications www.buchanan.uk.com\nKelly-Ann French 01943 883990\[email protected]\n\n\n\nGETECH Group Plc www.getech.com\nProf Derek Fairhead 0113 343 5240\nColin Glass 07831 258494\[email protected]\n\n\n\nTeather & Greenwood Ltd www.teathers.com\nRob Naylor 020 7426 9000\nrobert.n...