Magseis Fairfield awarded multiyear Ocean Bottom Nodes (OBN) Services and Seismic Shooting Services on the Norwegian Continental Shelf

December 17, 2020

(Oslo/Houston, 17 December 2020) Magseis Fairfield has been awarded a contract
for the provision of Reservoir Monitoring Source Services related to Permanent
Reservoir Monitoring (PRM) and 4D OBN monitor surveys, by ConocoPhillips
Skandinavia AS on the Norwegian continental shelf. In addition, Magseis
Fairfield has been awarded a further contract by ConocoPhillips Skandinavia AS
for the provision of OBN services. Both contracts have a nominal five (5) year
duration, with options to extend for further durations of up to five (5) years.
The initial surveys are anticipated to start in the second quarter of 2021.

“These contracts ensure continuity of our Reservoir Monitoring and Source
business segment combined with annual or bi-annual 4D OBN surveys. We are very
pleased to provide these services on the back of these long-term contract
awards”, says CEO Carel Hooijkaas.

For further information, please contact:
Mark Ivin, CFO
Tel: +47 948 88 606
Email: mark.ivin@magseisfairfield.com

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