(Oslo ,17 February 2020 )Magseis Fairfield has signed a system sales contract for delivery of Z100-nodes to an existing client inAsia . The delivery complements the client's existing Z100 system and enhances their ability to execute large scale transition zone and shallow water Ocean Bottom Node surveys. "While our current operations are focused on deep-water surveys, this award goes to show that we also offer competitive node systems for shallow-water surveys through our technology sales and lease business", saysMagseis Fairfield CEOCarel Hooijkaas . The contract will be filled with an immediate shipment of the first half of the total volume of nodes from inventory, and through delivery of the second half of total volume from new-built nodes in the second quarter 2020. "This is a profitable addition to our near-term backlog. It remains a top priority for us to continue to rebuild the backlog with healthy projects in all four of our business lines; Data Acquisition, Reservoir Monitoring/Source, Technology sales and lease, and Multi-Client services", adds Hooijkaas. 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 a leading provider of ocean bottom seismic systems and services. The Marine Autonomous Seismic System "MASS" and the range of Z-nodes combined with automated handling systems enables highly cost-efficient acquisition of data with exceptional quality. The Company is headquartered inOslo, Norway and has offices inNorway ,Sweden ,UK ,USA ,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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