Date: 26 March 2019

GC Rieber Shipping: Shearwater GeoServices awarded Troll Unit 4D contract by Equinor


Stock Exchange Notice
Date: 26 March 2019

GC Rieber Shipping: Shearwater GeoServices awarded Troll Unit 4D contract by Equinor

GC Rieber Shipping ASA's 20% owned geoservices company Shearwater GeoServices ("Shearwater") is pleased to announce the award of a 4D seismic survey at the Troll Unit by Equinor AS ("Equinor") to be conducted this summer. The project adds further to Shearwater's 4D program in the North Sea and Barents Sea this season.
The Troll Unit survey will last approximately 2 months and be conducted by the Amazon Conqueror using Shearwater's Isometrix system.

"The award of the Troll Unit project from Equinor adds to our extensive 4D and Isometrix program for the 2019 summer season. We are encouraged by our strong seasonal backlog which reflects an overall increase in 4D survey activity" said Irene Waage Basili, the CEO of Shearwater GeoServices.

Shearwater's leadership in 4D is based on over 20 years investment and experience in 4D source and streamer position, fleet and towing equipment, and sensor technologies. Isometrix is the most advanced multi-component streamer system developed, allowing true 3D deghosting.

For further information:
Einar Ytredal, CEO, GC Rieber Shipping, phone: +47 975 20 184
Irene Waage Basili, CEO, Shearwater GeoServices, phone: +47 900 98 688

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 11 and has direct and indirect ownership in 23 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 BÝrs 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.