A Mean Dynamic ocean Topography (MDT) has been computed using a high resolution GOCE gravity model and a new mean sea surface obtained based on a multi‐mission analysis of satellite altimetry and covering the period October 1992 till April 2010. The considered gravity model is a pure GOCE gravity model, computed using 12 months of data. The GOCE gravity data allow for more detailed and accurate estimates of MDT. This is illustrated in the Southern Ocean where the calculation of geostrophic velocities from satellite data is now possible with higher accuracy and spatial resolution. In order to assess the properties of the derived geostrophic velocity field, velocities are compared with independent data from satellite tracked surface drifters in the area of the Antarctic Circumpolar Current (ACC).