GEOTECH has completed the 2023-2024 winter field season.

Press Releases

GEOTEK held working meetings with key customers of the group of companies to summarize the results of the 2023-2024 winter field season. Following the meetings, customers noted the successful completion of geophysical work to search for oil and gas during the season in the volumes and terms corresponding to contractual obligations.


In total, during the winter field season, GEOTEK holding specialists completed over 3 thousand square kilometers of 3D seismic exploration, of which about 500 square kilometers were offshore works, and over 2.5 thousand linear kilometers of 2D seismic exploration.


In this field season, the company achieved record daily productivity indicators for certain types of work, which made it possible to complete over 550 square kilometers of work on a project in Eastern Siberia. km by one team in one season.


On a number of projects, work was carried out using unique technologies - pulse sources H-20 of our own production, which produce a peak force of 1500 kN.


Seismic exploration data was processed and interpreted in combination with drilling data for 23 sites, including in the Timan-Pechora and Volga-Ural oil and gas regions, Eastern and Western Siberia and on the continental shelf of the Russian Federation. The total volume of research amounted to more than 5 thousand square kilometers of 3D data and more than 50 thousand linear kilometers of 2D.


The achieved productivity indicators made it possible to ensure the required level of economic efficiency. According to the audited financial statements for 2023 under IFRS standards, for the first time since 2019, net profit was received in the amount of 0.35 billion rubles, EBITDA amounted to 1.4 billion rubles. The total contract portfolio has more than doubled and amounts to more than 22 billion rubles.


“The company is consistently implementing its development strategy in key areas. Active work continues both with key customers and in the direction of expanding the contract base in the country and abroad. A separate block is the work on modernizing the equipment fleet, including the development of our own high-tech equipment in the field of geological exploration as part of the implementation of the program to increase the level of technological sovereignty. GEOTEK has exceptional competencies and expertise in the geological exploration industry, as well as a highly professional team, and continues to make a significant contribution to the implementation of the state program for the reproduction of the mineral resource base of Russia in the oil and gas sector,” noted the President of AO GEOTEK Roman Panov.