Magseis Fairfield announces award of deepwater OBN program in Mexico

March 27, 2020

REM Saltire

(Oslo/Houston, 27 March 2020) Magseis Fairfield has been awarded a deep water OBN project in the Mexican sector of the Gulf of Mexico. Work is scheduled to commence in the third quarter of 2020 and will take approximately 60 days. The survey will be carried out in water depths of 2,000 to 2,600 meters.

The award adds further to the backlog for Magseis Fairfield’s proven existing ZXPLR crew, led by the REM Saltire node handling vessel. The new award increases the crew’s backlog into the fourth quarter 2020, following the two deep water OBN programs announced in December 2019.

“This award demonstrates our leading position in the deep water OBN market and strengthens our 2020 backlog. The work is for a repeat customer who completed a survey in the US Gulf of Mexico earlier in 2020, and we very much look forward to working for them in Mexico later his year.” says Carel Hooijkaas, Magseis Fairfield CEO.

This is the first deep water OBN survey in Mexico following the 2013 Energy Reform, and Magseis Fairfield is excited to leverage its extensive deep water OBN experience gained in the US sector of the Gulf.

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 a leading provider of ocean bottom seismic systems and services. The Marine Autonomous Seismic System "MASS" and the range of Z-nodes combined with automated handling systems enables highly cost-efficient acquisition of data with exceptional quality. The Company is headquartered in Oslo, Norway and has offices in Norway, Sweden, UK, USA, 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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