GC Rieber Shipping - M&A Activity 2020

GC Rieber Shipping: Shearwater Awarded Fourth Forties Field 4D Survey by Apache

GC Rieber Shipping ASA's 19% owned geoservices company Shearwater GeoServices

("Shearwater") is pleased to announce the award by Apache of a 4D seismic survey

with 3D extension over the Forties Field in the UK North Sea.

The one-and-a-half-month project will be conducted by the Amazon Warrior

starting in Q2 2020. In January, Shearwater announced multiple 4D surveys to be

performed in the 2020 North Sea season.

For further information, please contact:

Einar Ytredal, CEO, GC Rieber Shipping, phone: +47 975 20 184

Øystein Kvåle, CFO, GC Rieber Shipping, phone: +47 479 02 919

About GC Rieber Shipping:

GC Rieber Shipping's business within offshore/shipping includes ownership in

specialized vessels, high quality marine ship management and project development

within the segments Subsea & Renewables, Ice/Support and Marine Seismic.

The group has a specialized competence in offshore operations in harsh

environments as well as design, development and maritime operation of offshore

vessels. GC Rieber Shipping currently operates 13 and has direct and indirect

ownership in 29 advanced special purpose vessels for defined markets within the

Subsea & Renewables, Ice/Support and Marine Seismic segments.

The company has its headquarter and a ship management office in Bergen, and an

additional 50% ship management company in Yuzhno-Sakhalinsk (Russia). The

Company is listed on Oslo Børs with ticker RISH.

Further information is available on the company's website www.gcrieber

-shipping.com.

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.

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