Magseis Fairfield conditional award for a 4D OBN contract in the North Sea

(Oslo, 23 November 2021) Magseis Fairfield announces the conditional award of a 4D Ocean Bottom Node (OBN) survey in the North Sea. The survey will be conducted with Magseis Fairfield's Z700 technology. Start-up is expected in Q2 2022, and the project will run for approximately one month.

"The survey will commence following completion of the Asia project that was announced in August 2021. We are pleased to see that our Z700 crew continues to experience high demand" says Carel Hooijkaas, CEO in Magseis Fairfield.

For further information, please contact:

André Bjørvik, SVP Corporate Communication
Tel: +47 907 42 746
Email: [email protected]

Carel Hooijkaas, CEO
Tel: +47 480 49 277
Email: [email protected]

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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.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.