Shearwater initiates multi-client survey offshore Nigeria

22 Dec 2025 07:30 CET

Bergen, 22 December 2025: Shearwater Geoservices ("Shearwater") announces the
upcoming start of a new multi-client seismic project offshore Nigeria. The 3D
survey is backed by significant industry funding and will be executed in
partnership with Harvex Geosolutions and the Nigerian Upstream Petroleum
Regulatory Commission (NUPRC).
The project is scheduled to commence at year-end 2025 and will be carried out
by Shearwater's high-end vessel SW Duchess over an expected two-month period.
The survey will provide high-resolution subsurface data across the Western
Niger Delta Basin, supporting exploration decisions and future license rounds
in one of West Africa's most prospective oil and gas regions.
"This project underscores the growing momentum of our multi-client business
and our key role in supporting exploration across key global basins," said
Irene Waage Basili, CEO of Shearwater. "By investing in high-quality seismic
data, where we can both capture rapid returns and create longer-term value, we
are enabling smarter decisions and helping to shape the future of energy
security in West Africa and beyond."

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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