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Terra Energy and Resource Technologies Inc. has signed a service contract to survey approximately 17,000 sq km for oil and gas in the province of Santa Cruz, Argentina, using the company's technology Step®. The contract was awarded to Terra by the joint venture company of two oil companies Oil M&S S.A. and Unitec Energy S.A.
Alexandre Agaian, president of Terra, stated, "Our Step® technology was recently approved by the provinces of Santa Cruz, Mendoza, and Chubut to be included in exploration work programs with the work unit value significantly higher than that assigned to other methods, such as aero gravimetry, traditional remote sensing, and even reprocessing of 2D and 3D seismic.”