Shearwater awarded OBN contract for Shell-operated field off the west coast of Sabah, Malaysia

27 Nov 2025 07:30 CET

Bergen, 27 November 2025: Shearwater Geoservices ("Shearwater") has been
awarded a contract by Sabah Shell Petroleum Company Limited for an ocean
bottom node (OBN) 4D seismic survey at its operated field off the west coast
of Sabah, Malaysia.

The 4D acquisition will provide high-resolution time-lapse seismic data, used
to support reservoir understanding and management at the field.

The two-month project will be carried out in early 2026 using the unique
SW Tasman, designed to perform both node deployment and seismic source
operations. This enables highly efficient single-vessel project execution
where multiple vessels typically are required. Following the completion of
this project, the SW Tasman will have had more than two years of back-to-back
projects.

"The utilisation of Shearwater's fit for purpose OBN platform SW Tasman since
its launch in early 2024 is impressive and a strong validation of our
innovative and committed approach to optimising offshore operations," said
Irene Waage Basili, CEO of Shearwater. "The integration of seismic source and
dual ROV OBN deployment sets it apart in the industry, consistently delivering
efficiency and quality gains for our customers across multiple projects."

This contract was included as backlog in the second quarter report published
29 August 2025.

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
1,100 people.

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