Inactive Instrument

Magseis Fairfield ASA

MSEIS

NO0010663669

Oil Related Services and Equipment

Magseis Fairfield : secures LOA for four-month OBN contract in Gulf of Mexico from April 2021

September 02, 2020 at 02:03 am EDT

(Oslo/Houston, September 2nd 2020) Magseis Fairfield has received a conditional
Letter of Award (LOA) from an undisclosed multiclient company for a four-month
Ocean Bottom Node (OBN) survey in the Gulf of Mexico. The survey is anticipated
to start in the beginning of April 2021, and further extends the backlog for
Magseis Fairfield's ZXPLR crew on  the REM Saltire.
 
"Our ZXPLR crew in the Gulf of Mexico has been working continuously since first
deploying the ZXPLR node technology in Q4 2017 and we are glad to see a repeat
customer now adding further to our backlog for 2021," says CEO Carel Hooijkaas
in Magseis Fairfield.

The LOA is subject to certain conditions, including that the client obtains the
required survey permits, management approvals and sufficient pre-funding.

For further information, please contact:
Carel Hooijkaas, CEO
Tel: +47 480 49 277
Email: carel.hooijkaas@magseisfairfield.com

Mark Ivin, CFO 
Tel: +47 948 88 606 
Email: mark.ivin@magseisfairfield.com 

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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 in Oslo, Norway and has offices in US, Sweden, UK,
Brazil and Singapore. This information is subject of the disclosure requirements
pursuant to section 5-12 of the Norwegian Securities Trading Act.

Click here for more information

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Magseis Fairfield ASA is a Norway-based global 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 whole Group is managed as one segment, being geophysical surveys with respect to products and services. Magseis Fairfield ASA's services include technology lease and sale, the offering comprises nodes for any environment, any challenge, any depth, land or sea, and back up the Company's technology with unparalleled expertise. Magseis Fairfield ASA has numerous subsidiaries, such as Magseis Fairfield Industries International Ltd, Magseis Singapore Services Pte Ltd, Magseis Renewables AS and Magseis Malaysia Sdn Bhd.

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