GC Rieber Shipping: Shearwater GeoServices awarded largest-ever 4D campaign in the Asia Pacific region by Woodside

Stock Exchange Notice
Date: 18 November 2019

GC Rieber Shipping: Shearwater GeoServices awarded largest-ever 4D campaign in the Asia Pacific region by Woodside

GC Rieber Shipping ASA's 20% owned geoservices company Shearwater GeoServices has been awarded the largest-ever 4D seismic campaign in the Asia Pacific region covering up to six fields operated by Woodside in Australia.

The campaign, planned to commence in Q4 2019, covers new 4D acquisition over the Pluto, Brunello, Laverda, Cimatti and Vincent fields with an option for one additional field. The 4D seismic campaign will improve Woodside’s understanding of the fields’ production performance over time and provide data to guide future field developments. This is the second 4D seismic campaign award by Woodside to Shearwater following the baseline 4D program in Senegal earlier this year.

The campaign will be executed using the Amazon Conqueror, one of the world’s most advanced seismic vessels, purpose built for environmentally friendly seismic acquisition, and equipped with Isometrix the leading multi-component multi-sensor seismic streamer system.

For further information, please contact:

Einar Ytredal, CEO, GC Rieber Shipping, phone: +47 975 20 184
Øystein Kvåle, CFO, GC Rieber Shipping, phone: +47 479 02 919

About GC Rieber Shipping:

GC Rieber Shipping's business within offshore/shipping includes ownership in specialized vessels, high quality marine ship management and project development within the segments subsea, ice/support and marine seismic.

The group has a specialized competence in offshore operations in harsh environments as well as design, development and maritime operation of offshore vessels. GC Rieber Shipping currently operates 13 and has direct and indirect ownership in 22 advanced special purpose vessels for defined markets within the subsea, ice/support and marine seismic segments.

The company has its headquarter and a ship management office in Bergen, and an additional 50% ship management company in Yuzhno-Sakhalinsk (Russia). The Company is listed on Oslo Børs with ticker RISH.

Further information is available on the company's website www.gcrieber-shipping.com.

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.