GC Rieber Shipping: Shearwater GeoServices awarded hybrid node-streamer seismic survey in Malaysia

GC Rieber Shipping: Shearwater GeoServices awarded hybrid node-streamer seismic survey in Malaysia

Stock Exchange Notice Date: 18 December 2019 GC Rieber Shipping: Shearwater GeoServices awarded hybrid node-streamer seismic survey in Malaysia GC Rieber Shipping ASA's 20% owned geoservices company Shearwater GeoServices is pleased to announce the award of hybrid node and towed streamer seismic survey by Repsol Oil & Gas Malaysia Limited. The survey is scheduled for Q1 2020 and is expected to take 2 months to complete. The project covers approximately 1,000 sq. km of ocean bottom and towed streamer seismic on Repsol's operated block offshore Peninsular Malaysia. The Multi -Purpose Vessel (MPV) SW Vespucci will acquire the seismic using Flexisource triple source in combination with Qmarine towed streamer and ocean bottom nodes. For further information, please contact: Einar Ytredal, CEO, GC Rieber Shipping, phone: [phone] Øystein Kvåle, CFO, GC Rieber Shipping, phone: [phone] 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.