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Shearwater & CGG Agree to Suspend Technology Partnership Negotiations

Source: www.gulfoilandgas.com 11/5/2020, Location: Europe

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.

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