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Regulatory press release

MSEIS: Magseis Fairfield completes innovative CCS monitoring pilot project in the North Sea

(Oslo, 5 September 2022) Magseis Renewables AS, a wholly owned subsidiary of
Magseis Fairfield ASA, has successfully completed a high-resolution 3D seismic
data acquisition offshore Norway over a carbon storage area.

The project utilized Magseis Fairfield's Extended High-Resolution (XHR)
acquisition technology combined with ocean bottom nodes (OBN), to provide
detailed imaging of the targeted carbon storage reservoir and the overburden.

The nodes were deployed using Magseis Fairfield's proprietary node drop and
self-recovery technique. This innovative node handling solution removes the need
for an ROV vessel , which is a step change towards a more cost effective and
efficient node handling solution.

"This project secured funding through industry partners and Gassnova through the
CLIMIT program. We are pleased that this project has been successfully completed
to further showcase our commercially competitive technology offerings in the
renewables market." says CEO, Carel Hooijkaas.

"We believe that combining our XHR and OBN technology provides superior data
quality, and that our innovative solutions reduce the associated costs to a
level that will significantly accelerate adoption." says Renewables Director,
Tone Holm-Trudeng.


This is information is subject to the disclosure requirements pursuant to
section 5-12 of the Norwegian Securities Trading Act.

For further information, please contact:

Carel Hooijkaas, CEO
Tel: +47 480 49 277
Email: carel.hooijkaas@magseisfairfield.com

Tone Holm-Trudeng, Director of Renewables
Tel: +47 957 60 427
Email: tone.trudeng@magseisfairfield.com

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Magseis Fairfield is the global leading provider of ocean bottom seismic (OBS)
technology and data acquisition projects. The company has a flexible business
model with full scale node operations, as well as lease and sale models. The
Marine Autonomous Seismic System "MASS" nodes and the range of Z-nodes combined
with handling systems and source technology enables market leading deployment
speed and highly cost-efficient acquisition of data with exceptional quality.
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