GC Rieber Shipping: Shearwater GeoServices awarded large 3D and 4D programs by Petrobras

GC Rieber Shipping ASA's 17% owned geoservices company Shearwater GeoServices
Holding AS (Shearwater) today announced the award of a 4D monitoring contract
for towed streamer seismic acquisition, in the Campos Basin offshore Brazil.

These 3D and 4D programs will be conducted over 9-months by the SW Empress, over
the Marlim, Albacora and Voador fields, starting in late Q2 2021.

4D time-lapse seismic monitoring is a key reservoir management tool. Shearwater
is a technology and market leader in 4D towed streamer and ocean bottom seismic
acquisition.

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.