Black Sea Oil & Gas SRL and its co-venture partners have entered into an agreement with GC Rieber Shipping ASA for seismic acquisition

Bucharest Romania, 19 May 2016

GC Rieber Shipping secures 45 day job for Polar Marquis in the Black Sea

GC Rieber Shipping ASA, through its wholly owned subsidiary Dolphin Geophysical LTD, has entered into an agreement for seismic acquisition and processing services, including the delivery of a fast track 3D volume for Black Sea Oil & Gas S.R.L and its co-venture partners. The job will utilize the 16 streamer vessel Polar Marquis, towing a high resolution multistreamer configuration. Commencement is shortly and the vessel acquisition will take place offshore the Romanian coast of the Black Sea.

“In this challenging market we’re pleased to see that clients value our highly advanced assets and our ability to adapt to specific needs, together with the high quality acquisition and processing services delivered by Dolphin Geophysical LTD.”, says CEO Irene Waage Basili.

For further information, please contact:

CEO Irene Waage Basili, tel.: +47 55 60 68 67, sau +47 900 98 688

CFO Einar Ytredal, tel.: +47 55 60 68 54, sau +47 975 20 184

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, 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 advanced special purpose vessels for defined markets within the subsea, ice/support and marine seismic segments, of which the company owns 11.

The company has its headquarter and a ship management office in Bergen, and an additional 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 of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)