MAGSEIS FAIRFIELD ASA (Oslo ,30 June 2020 )Magseis Fairfield is pleased to announce the award of a 4D OBN monitor survey in theNorth Sea 2021 summer season, with potential follow-on work in subsequent years. "In the current market, clients are sharpening their focus on the value creation on existing fields, and our Ocean Bottom Node services offer a powerful tool to this end," says Carel Hooijkaas, CEO inMagseis Fairfield . "We have taken decisive action to align costs and capex in a challenging market, to protect our operational and financial flexibility and ensure a good entry into 2021. This program is a confirmation of our leading market position, and we are glad to see that we are now beginning to expand our backlog further into next year", says Hooijkaas. The program will start inMay 2021 , and potential work in subsequent years will be of a similar scope. For further information, please contact: Carel Hooijkaas, CEO Tel: +47 480 49 277 Email: carel.hooijkaas@magseisfairfield.comMark Ivin , CFO Tel: +47 94 88 86 06 Email: mark.ivin@magseisfairfield.com ---Magseis Fairfield is the global leading provider of ocean bottom seismic (OBS) technology and data acquisition projects. The company has a flexible business model with full scale node operations, as well as lease and sale models. The Marine Autonomous Seismic System "MASS" nodes and the range of Z-nodes combined with handling systems and source technology enables market leading deployment speed and highly cost-efficient acquisition of data with exceptional quality. The Company is headquartered inOslo, Norway and has offices in US,Sweden ,UK ,Brazil andSingapore . This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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