Terra Energy & Resource Technologies has completed the first phase of its services contract with Petroquimica Comodoro Rivadavia (PCR) for oil and gas exploration in Argentina.

The oil and gas exploration services contract covers four stages of work with respect to several territories in Argentina, employing Sub-Terrain Prospecting (STeP), Naturally Adsorbed Gas Survey (NAGS), and Side View Seismic Locator (SVSL) technologies of the Terra Technologies Suite.

The first phase STeP analysis of two license blocks has been completed, and the company has commenced geochemical studies of one of the surveyed license blocks using the NAGS technology.

The company awaits the start of Phase 2 services, which will include STeP analysis of three additional territories.

Terra said that PCR has made an advance prepayment for the geochemical stage of the work in accordance with the contract.

Terra provides mapping and analysis services for exploration, drilling and mining companies related to natural resources found beneath the surface of the earth.