Equinor Awards Three 4D Contracts to Shearwater GeoServices

GC Rieber Shipping ASA's 20% owned geoservices company Shearwater GeoServices ("Shearwater") is pleased to announce the award of three 4D seismic surveys by Equinor AS ("Equinor") to be conducted this summer. The projects confirm Shearwater's Isometrix crews will be active in 2019, on 4D projects in the North Sea and Barents Sea. Together with the recent announcement of 3 OBN 4Ds this brings Shearwater's announced 2019 4D awards to 6 projects, confirming its market leading position in 4D.

Equinor has awarded Shearwater a multi-project contract, with three surveys to be conducted in 2019 at the Kvitebj?rn & Valemon, Visund and Sn?hvit fields. The first survey is scheduled to start in Q2 and the total duration for the three 2019 projects is estimated at around 3 months. The surveys will be conducted by Shearwater's Amazon Conqueror and SW Amundsen.

"We see a clear increase in activity in the 4D market in 2019, and we are very pleased to see a leading purchaser of 4D seismic choosing Shearwater's Isometrix technology for their 4D surveys. Shearwater has decades of innovation and crew experience in 4D and it is important to see this capability selected by established clients," 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 system developed allowing true 3D deghosting. Shearwater crews are appreciated for their high experience in 4D surveys.