Shearwater awarded large streamer contract in India

22 Sep 2025 07:30 CEST

Bergen, 22 September 2025 -- Shearwater Geoservices AS ("Shearwater") has been
awarded a seven vessel-months streamer contract by Oil India Limited
commencing in the fourth quarter of 2025. The combined 3D and 2D seismic
survey will employ two vessels from the Shearwater fleet.

The project covers the Mahanadi and Krishna-Godavari fields and includes the
acquisition of approximately 5.000 square kilometres of 3D seismic and more
than 4.000 line-kilometres of 2D data.

"Shearwater is returning India for our tenth consecutive season to acquire
high-quality data. We are a significant contributor to India's strategy of
lowering the country's energy deficit, having supported both the National
Seismic Program and Indian oil companies with 2D, 3D and OBN data
acquisition," says Irene Waage Basili, CEO of Shearwater. "Building
understanding of the geology in this promising region is key to unlocking
future investment opportunities for our client."

For further information:
Irene Waage Basili, CEO, Shearwater Geoservices, phone: +47 90 09 86 88
Kristian Rådal, Head of Investor Relations, phone: +47 99 23 61 58

About Shearwater:
Shearwater is a global marine geoscience and technology business that
specialises in collecting data offshore. The organisation uses state-of-the
art seismic vessels and equipment to explore beneath the seabed and processes
the data using market-leading proprietary software. These insights help
clients understand the Earth and make informed decisions about accelerating
responsible use of its resources. Shearwater's headquarters is in Bergen,
Norway, with more facilities all around the globe. The company employs around
1100 people.

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