GC Rieber Shipping ASA's 19% owned geoservices company Shearwater GeoServices

Holding AS ("Shearwater") today announced the award by Petrobras of a large

Ocean Bottom Node 4D Baseline survey over the Jubarte Field in the Campos
Basin

offshore Brazil.



Shearwater has positioned itself as a leading player in the deepwater OBN

market, building on its established leading positions in the hybrid and
shallow

water ocean bottom seismic markets.



The 810 sq. km survey will commence in the first half of 2021 and be
conducted

over a 3-month period.



The survey will utilise the SW Diamond operating Shearwater's unique 3x3
source

which is equipped with three sub-arrays on each of the three sources,
compared

to the conventional two, allowing increased efficiency without source

compromise. While conventional sources vary their energy in one direction
versus

another, this project's omni directional source is designed to give out
energy

uniformly in all directions which will be key to 4D repeatability for this
rich

azimuth deepwater OBN 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.

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