Company Name

Magseis Fairfield

ISIN

NO0010663669

Market

Oslo Børs

Symbol

MSEIS

(Oslo/Houston, 21 September 2020) Magseis Fairfield announces the award of a deepwater 4D Baseline Ocean Bottom Node (OBN) survey in the US Gulf of Mexico for a repeat customer.

The survey is anticipated to start in December 2020 with a project duration of approximately 80 days, adding to Magseis Fairfield’s 2020 and 2021 backlog. Magseis Fairfield will mobilize the second ZXPLR crew for this project.

“Our Ocean Bottom Node technology in the Gulf of Mexico continues to deliver high quality and cost-effective data to our clients. The award of this project further highlights that during these challenging market conditions, our clients are looking at cash and value generation from existing reserves, thereby using Magseis Fairfield OBN technology”, says CEO Carel Hooijkaas in Magseis Fairfield.

For further information, please contact:

Carel Hooijkaas, CEO
Tel: +47 480 49 277
Email: carel.hooijkaas@magseisfairfield.com

Mark Ivin, CFO
Tel: +47 948 88 606
Email: mark.ivin@magseisfairfield.com

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Magseis Fairfield is the global leading provider of ocean bottom seismic (OBS) technology and data acquisition projects. The company has a flexible business model with full scale node operations, as well as lease and sale models. The Marine Autonomous Seismic System "MASS" nodes and the range of Z-nodes combined with handling systems and source technology enables market leading deployment speed and highly cost-efficient acquisition of data with exceptional quality. The Company is headquartered in Oslo, Norway and has offices in US, Sweden, UK, Brazil and Singapore. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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