ABB wins US$ 160 million oil contract in North Sea

Order builds on long-term relationship with Norsk Hydro

Zurich, Switzerland, May 20, 2003 - ABB, the leading power and automation technology group, said today it has won an order worth US$ 160 million for maintenance and modification work on Norsk Hydro’s oil installations on the Norwegian continental shelf in the North Sea.

“ABB has carried out a similar contract for Norsk Hydro since 1994, and we see this award as a confirmation of their satisfaction with past work, and a strong belief in good cooperation in the future,” says Erik Fougner, head of ABB’s Oil, Gas and Petrochemicals division.

The three-year contract is for maintenance and modification on Oseberg Field Centre, Oseberg South and Njord, as well as the onshore terminal at Sture in western Norway. The contract has options for three two-year extensions.

ABB has won a series of orders from Norsk Hydro. One of the latest was a US$ 80 million contract to provide two modules to increase oil production and start the export of gas from the Visund oil platform in the North Sea.

ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 135,000 people.

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