GC Rieber Shipping: Shearwater GeoServices awarded Bay of Bengal 3D survey for Reliance in India

GC Rieber Shipping ASA's 19% owned geoservices company Shearwater GeoServices
Holding AS ("Shearwater") today announced the award of a 3D seismic acquisition
contract in the Bay of Bengal, India by Reliance Industries Ltd. ("Reliance").

The survey is scheduled to commence in Q1 2021 and covers 1,500 sq. km of block
KG-UDWHP-2018/1 in the Krishna-Godavari basin and will be executed by the SW
Vespucci. The contract scope also includes fast-track time processing.

Contact information:

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 is a shipowner and project-house with focus on developing
profitable and sustainable maritime projects.

Further information about the company, please go to www.gcrieber
-shipping.com.

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