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Shearwater GeoServices Wins 3D Seismic Survey Contract for Eastern Offshore India from ONGC

Bergen, 8 February, 2024 – Shearwater GeoServices Holding AS (Shearwater) proudly announces it has been contracted by the Oil and Natural Gas Corporation Limited (ONGC) for a survey project in the Cauvery Basin, located off the east coast of India. This project highlights Shearwater's commitment to facilitating secure access to energy resources.

Set to begin in the early months of 2024, the project will cover a 4,600 km² area in the Bay of Bengal, utilizing the SW Empress to carry out the survey. This initiative underlines Shearwater's role in supporting efficient and technologically advanced exploration activities in the region.

"We look forward to working with ONGC on another project, which underscores our solid relationship and track record in India. It reflects our mutual dedication to advancing exploration with precision and care."

Irene Waage Basili, CEO of Shearwater
For further information:

Irene Waage Basili, CEO, Shearwater GeoServices, phone: +47 90 09 86 88
Kristian Rådal, Investor Relations Manager, phone: +47 99 23 61 58

About Shearwater GeoServices Holding AS:

Shearwater is a global marine geoscience and technology business that specialises in collecting data offshore. The organisation uses state-of-the art seismic vessels and equipment to explore the seabed and processes the data using market-leading proprietary software. These insights help clients understand the Earth and make informed decisions about accelerating responsible use of its resources. Shearwater's headquarter is in Bergen, Norway, with more facilities all around the globe. The company employs around 1200 people.