Magseis Fairfield receives updated award with increased scope in North Sea

September 14, 2022

With reference to the announcement made 30 June 2020, we are pleased to announce that the project scope has been increased. The project was originally scheduled to commence in Q2 2021, but was deferred at the request of our client.

The project is now scheduled to start in Q2 2023, with an expected duration of approximately 3 months, using the Z700 technology.

“We are pleased that we have, in good collaboration with one of our key clients, concluded on an increased project scope with updated terms and conditions to reflect the current market conditions” says Carel Hooijkaas, CEO in Magseis Fairfield.

This information is considered to include inside information pursuant to article 7 of the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by André Bjørvik, SVP Corporate Communication, at the date and time as set out above.

For further information, please contact:

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

Stig Hognestad, CFO
Tel: +47 902 59 040
Email: stig.hognestad@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.