Major Globe Platform Subscription Renewal
US energy super-major renews Globe platform subscription for $945,000 over three years.
- Subscription renewal value $945,000
- Contract duration 3 years
- Customer relationship duration over fourteen years
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Getech, a world-leading locator of subsurface resources, is pleased to announce that it has successfully closed a significant Globe platform subscription renewal with a US-based energy super-major. The renewal contract has a total value of $945,000 to be recognised over 3-years.
The successful completion of these negotiations reflects the continued demand for our solutions from energy leaders and the importance they attach to our ability to provide data and analytics in support of their exploration programmes.
Chris Jepps, CEO of Getech, commented:
"Globe enhances resource exploration activities by providing a computer-based model, or 'digital twin', of Earth's geologic development and history. Our customers use this model to help locate potential zones for new resource discovery, and Globe's most recent releases have offered even greater value to its user-base with enhanced data layers and analytical tools.
We are delighted that a long-standing key customer has renewed its subscription to the Globe platform for another three years, reaffirming the value that our flagship product brings to its business. This renewal extends their relationship with Getech as a Globe user to over fourteen years, supports our annual recurring revenue (ARR) and replenishes our order book. Furthermore, it highlights how global geopolitical dynamics and energy supply challenges continue to drive investment in oil and gas exploration - a core market for Getech."
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