GEOTECH Seismic Survey

GEOTEK Seismic Exploration PJSC is a geophysical company that provides a range of services in the field of seismic exploration using technologies. The company carries out field work with helicopter support, high-performance projects using vibration excitation sources, seismic projects in the transit zone. The territorial divisions of the company are located outdoors, mainly in taiga forests with no road and IT infrastructure. The goal of the project is to track the movement of more than 300,000 objects of movable and immovable property.

History

2022: Bank Trust sold Geotek

Trust sold the oilfield service company Geotek. This was announced in mid-December 2022 by the chairman of the board of the bank of non-core assets Alexander Sokolov.

We were forced to leave the Geotek exploration company ahead of schedule, since this industry has generally folded for some time, "the top manager said in a conversation with Vedomosti.

Bank Trust sold the oilfield service company Geotek

According to him, Geotek was planned to be sold only in 2026, "but it was impossible to wait - we could not guess what would happen to the market by the desired date."

Sokolov noted that adding that investments in geological exploration are declining "first of all, if the oil and gas sector does not understand the volume of demand for its products."

Fortunately, we managed to find a high-quality profile investor who has enough financial and industry resources to keep and develop the company, "Trust said, refusing to disclose the details of the transaction and the buyer," so as not to harm all its parties. "

According to Sokolov, the state in which the Russian economy found itself in 2022 also influenced the activities of the bank of non-core assets Trust, whose task is to fulfill the plan approved by the Central Bank from year to year to return 482 billion rubles in five years. And this goal does not change, although it has become much more difficult - by 2022 the market for a buyer, not a seller, he added.

In February 2022, Alexander Sokolov said that Geotek was waiting for a "reboot" after a change in the company's management. The bank did not rule out the preservation of the asset until 2026, since the new strategy provided for a long cycle of development and increase in the value of the company.

By December 2022, Geotech Seismic Survey is conducting work in Western and Eastern Siberia, in the Timan-Pechora and Volga-Ural provinces, as well as in Kazakhstan.^[1]

2019

Geotech Seismic was also sold by Otkritie FC Bank to Trust in December 2020. The deal amounted to 4.9 billion rubles, Kommersant wrote.

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