About GETECH
Company History
Since 1986 GETECH has evolved from a small Leeds University research group under its founder Dr Derek Fairhead, to a leading petroleum and minerals consultancy best known for its unique global gravity and magnetic data holdings and services; with offices in Leeds, UK and Houston, Texas. This evolution included the forming of a spin-out company from the University in October 2000, and converting to a public company (GETECH Group plc) in September 2005.
The academic research, at the root of this transformation, was the ability to compile available gravity survey data for west and central Africa and interpret them in terms of the distribution of sedimentary basins resulting from continental tectonic processes. Derek was also able to show that the development of these sedimentary basins resulted from plate tectonic processes that caused the break up of South America from Africa some 140 million years ago resulting in the development of the South Atlantic Ocean, and causing fracture systems penetrating deep into Africa. By careful analysis it was possible to correlate the changes in the opening of the South Atlantic with the phased development of the rift basins of west and central Africa.
Until this time, oil companies had a very limited regional understanding of how the subtle features seen within their Concession Blocks fitted into the larger geological/tectonic picture.
In the early 1980’s Dr Fairhead developed a geological model for western and central Africa by integrating the limited gravity data available at that time. On a sabbatical visit to the USA in early 1985 the oil companies were impressed by the work he had done and supported the idea that they fund an extension to the study to do the same thing for the whole of Africa, but this time incorporating oil company data both onshore and offshore. Up to that time oil company data were normally locked away in their archives after their immediate exploration use was complete.
On Dr Fairhead's return journey to the UK he met up with his friend Professor Tony Watts, based then at Lamont Doherty Geological Observatory, New York (now at University of Oxford), who is an international expert on marine gravity and continental margins. Tony was invited to join the African Gravity Study to demonstrate a strong technical project team at the proposal stage. Despite oil prices dipping to $10 in late 1985, GETECH was able to attract 9 oil companies to commit to sponsor the 3-year study. The African Gravity Project (AGP) commenced in February 1986.
The Early Years (1986 - 2000)
The results of the African Gravity Project in late 1988 gave the oil companies the ‘Big Picture’ to better understand African continental tectonic controls on basin development and how plate tectonic processes offshore had an impact onshore.
Buoyed by this success, a mission to compile gravity maps for the oil companies for all the continents of the world, within ten years, was born. This started with South America (SAGP) and was followed by West-East Europe (WEEGP), South and East Asia (SEAGP) and finally North Central Asia (NCAGP), the last being completed in 1996. During this period we had successfully declassified the Former Soviet Union and Chinese gravity data and commenced a major UK/US Government and oil industry funded R&D project to improve the resolution of satellite derived marine gravity from ~40km resolution down to ~10km resolution. At such short wavelengths continental margin oil structures could be identified and mapped.
In parallel with the gravity data compilations and commencing in 1989, GETECH encouraged oil and mineral companies to sponsor projects to compile the aeromagnetic data for Africa (AMMP). This was achieved by working with PGW Ltd based in Toronto and a former PhD student of Derek's, then Prof of Geophysics at ITC Delft, who had proven expertise in handling and reprocessing aeromagnetic data. The link with PGW in the African study was very successful and resulted throughout the early- and mid- 1990's in further joint work compiling aeromagnetic data for South America (SAMMP) and then China (CHAMP) the latter involving the reprocessing of 7 million line km of aeromagnetic data, using a team of 10 Chinese scientists within the Ministry of Geology. GETECH has also compiled data for Eastern Europe (EEMP), South East Asia (MESA), Mongolia and Russia (RAMS).
This success of the global gravity and magnetic projects has resulted in GETECH holding the world's largest gravity and magnetic archive of data. Since GETECH has agreed marketing rights to these data, provision of regional data has become a major, unique aspect of our business.
In 1991 the project group moved into a larger office suite adjacent to the School of Earth Sciences at the University of Leeds, and adopted the name GETECH.
Opening an office in Houston in 1997 helped to maintain close relationships with the many US domestic and international oil companies. The dip in the oil price in the late 1990's dealt a fatal blow to many gravity and magnetic contractors world-wide. Despite having to release 30% of its staff, GETECH survived and this experience provided important lessons which have helped GETECH to grow stronger ever since.
Geophysical Exploration Technology Ltd is born (2000 - 2005)
In October 2000 GETECH started trading as a separate private limited company, with the University holding a minority stake. Our business strategy was to;
- a) Continually expand our library of gravity and magnetic data.
- b) Continue and develop our pre-2000 strategy to undertake non-exclusive exploration studies covering some of the main frontier regions of the world.
- c) Launch new initiatives. In late 2004 GETECH formed the Petroleum Systems Evaluation Group. This group built upon GETECH's established potential field expertise and datasets to help clients reduce exploration risk through the application of traditional and innovative techniques in identifying Petroleum Systems around the globe. These include the interpretation of regional tectonics, Earth system modelling and palaeodrainage analysis. This group grew quickly and attracts serious attention from international oil companies.
- d) Globalise our marketing through having offices in Leeds and Houston to help promote our products, maintain close links with clients and gain new business.
GETECH Group plc (2005- Present)
The success of our business strategy and further opportunities for growth lead to GETECH listing on the Alternative Investment Market (AIM) in September 2005.
We continued to develop our international linkages, and, for example, our links with Russian Institutes are allowing us to provide exclusive access to their extensive aeromagnetic database covering the whole of the Russian Arctic continental margin, and beyond, and to make available a range of new Arctic petroleum related datasets.
Since 2005 GETECH has seen its Petroleum Systems group grow in size, from 2 people in 2004 to 19 as of Dec 2007. These numbers do not include the geophysicists who work closely with the Petroleum Systems group on a number of studies that include the Circum Arctic, South Atlantic Margins, East Africa and a number of studies in South East Asia.
Elmete Hall
This rapid expansion required more space than was available in the University and we acquired Kitson House and Nicholson House at the end of 2006. These are both part of the Elmete Hall redevelopment, situated to the NE of Leeds City centre. We moved to this site in January 2007 and in November had the official opening by Linda Pollard, the Pro-Chancellor of the University and Head of the University Council. The accommodation has many advantages in terms of its immediate environment, and space for future expansion.
The Forefront
Keeping at the forefront of the science and technology is challenging and has its rewards. Dr Fairhead has been awarded the BGI medal for his work on Earth Gravity, received an Honorary Chair of Geophysics in China, was made a full Professor by the University of Leeds where he spends 20% of his time and received the SEG ‘Special Commendation Award’ honouring his achievements by the oil industry. The success of GETECH can also be attributed to its skilled and dedicated staff. GETECH's future as a public company will be challenging with growth coming from an expansion of products and services linked closely to our core business.
Dr J Derek Fairhead, Executive Chairman
