Geotech plans to allocate 5 billion rubles for the modernization of equipment
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Geological exploration company “Geotech seismic” plans to allocate 5 billion rubles. for the purchase of vibration sources and drilling rigs for the provision of services. This was reported in the press service of Geoteka.
The company noted that now it is “in the active phase of the formation of the contract base.” The goal of the investment program is to “develop new markets, increase the share of high-tech and high-margin projects” to increase revenue by more than 30% by 2024 compared to the previous year.
Geotech is now working on entering the markets of India, the Middle East and the CIS countries, where large volumes of geological exploration work will have to be carried out in the near future, the company noted. Geotek has already entered into several joint venture agreements with leading service companies, is preparing to participate in tenders for work on land and in transit zones, and has also been pre-qualified by state-owned oil companies.
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