GC Rieber Shipping: Shearwater GeoServices awarded acquisition and processing contract in Turkey

Stock Exchange NoticeDate: 19 March 2019 GC Rieber Shipping: Shearwater GeoServices awarded acquisition and processing contract in Turkey GC Rieber Shipping ASA's 20% owned geoservices company Shearwater GeoServices ("Shearwater") is pleased to announce the award of a seismic acquisition and...

London, 19/03/2019 (informazione.news - comunicati stampa - trasporti)

Stock Exchange Notice
Date: 19 March 2019

GC Rieber Shipping ASA's 20% owned geoservices company Shearwater GeoServices ("Shearwater") is pleased to announce the award of a seismic acquisition and depth processing contract by Türkiye Petrolleri Anonim Ortakligi (TPAO).

The survey contract covers an area of 2200 sqkm and includes fast track processing, followed by full time and depth processing. Work will commence in Q2 2019 and will be conducted by the Polar Empress.

"We are very pleased to see the Polar Empress contracted by TPAO for this 14-streamer survey, following on from efficient operations elsewhere completing ahead of schedule. Achieving operational efficiency within each project and maximizing utilisation over a program of projects is key to our results" said Irene Waage Basili, the CEO of Shearwater GeoServices.
Einar Ytredal, CEO, GC Rieber Shipping, phone: +47 975 20 184
Irene Waage Basili, CEO, Shearwater GeoServices, phone: +47 900 98 688 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, with an additional 50 % owned ship management company in Yuzhno-Sakhalinsk (Russia). The company is listed on Oslo Børs 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.