GeoTeric

What if you could apply the precision of medical imaging to the complex world of geology? That’s the question that sparked the creation of Geoteric. For over 30 years, the company, originally founded as Foster Findlay Associates (FFA) in 1987, has been a pioneer in analyzing the Earth's subsurface. Their core business is developing advanced 3D seismic analysis technology, which essentially creates a detailed map of what lies beneath our feet. This isn't just about making interesting pictures; it's about enabling energy companies to see the geology before they interpret it. By using AI and sophisticated software, Geoteric helps these companies understand complex geological data to more safely and efficiently find and extract oil and gas, select sites for wind farms, and verify locations for carbon capture and storage. In 2019, they became the first to market with commercial AI seismic interpretation solutions, a significant step in the industry. A major turning point for the Newcastle-based company came in February 2024. Geoteric, which had been majority-owned by Energy Ventures, was acquired by Geoteric Holding AS, a newly formed Norwegian consortium. This acquisition by investors including Redback AS, Herfo Finans AS, and Møkster Investering AS marked a new chapter, providing the capital and experience to accelerate growth and solidify Geoteric's position in the global energy technology market.