Thursday 5 November 2020

Reference is made to the stock exchange notice on 4 June 2019, where it was announced that GC Rieber Shipping ASA's 19% owned geoservices company Shearwater GeoServices Holding AS ("Shearwater") planned to establish a marine streamer technology partnership with CGG S.A. (CGG).

Due to the downturn in the oil and gas industry, triggered by the COVID-19 pandemic, Shearwater and CGG have jointly agreed to suspend negotiations regarding the partnership.