GC Rieber Shipping ASA's 19% owned geoservices company Shearwater GeoServices
("Shearwater") is pleased to announce the award of a major Ocean Bottom Seismic
deepwater ROV project by TGS and partner in the Gulf of Mexico, USA. The award
confirms Shearwater's position as the leading geophysical service company.
This will be Shearwater's first OBS ROV (Remotely Operated Vehicle) survey and
will leverage the company's strengths in source capabilities, operational scale
and flexibility.
The OBS ROV crew complements Shearwater's Ocean Bottom Cable and Ocean Bottom
Node crews and marks the company's presence in all sectors of the Ocean Bottom
Seismic market, in acquisition and processing. Shearwater will have three OBS
crews operating in 2020.
Two Shearwater vessels, the SW Diamond and SW Emerald, will be used for the
project, equipped with three high-capacity sources each composed of three sub
-arrays. This investment in a new source configuration will allow two source
vessels to be used instead of three for the survey, with a consequent increase
in efficiency and reduction in operational greenhouse gas emissions.
The survey will commence in Q2 2020 and is scheduled to be completed over
approximately four months.
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 29 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.