Zurich, Switzerland, June 27, 1996 - ABB, the international electrical engineering company, has won two orders with a total value of more than US$ 200 million to provide maintenance and system upgrade services to offshore oil and gas facilities in the Norwegian sector of the North Sea. The three-year contracts with Statoil, the Norwegian state oil company, cover maintenance as well as the planning, engineering, fabrication and installation of equipment and system upgrades for the Troll and Sleipner gas fields.
Work under the contracts, which have a 6-year extension option, is scheduled to commence at the beginning of November 1996. The combined value of the two contracts is about US$ 23 million per year, totaling more than US$ 200 million over their total 9-year lifespan, and they are expected to provide employment for as many as 300 people.
The Troll field contract covers the Troll platform, the world`s largest offshore structure, located 50 km west of Bergen, Norway, as well as the large onshore gas plant and facilities north of Bergen. The Sleipner contract covers all installations on the gas field southwest of Stavanger, Norway.
The award of these contracts reinforces ABB`s position as a leading supplier of equipment, systems and services to the international offshore oil and gas industry and follows a similar ABB contract with Amoco of the U.S. for the Valhall and Hod oil fields, also in the North Sea.
ABB's oil, gas and petrochemical business activities employ approximately 8,000 people with orders in 1995 of nearly US$ 2 billion. The business focuses on the development and upgrading of oil and gas installations, refineries, and petrochemical and chemical installations worldwide. It is part of ABB's Industrial and Building Systems segment, which employs approximately 90,000 people worldwide with orders in 1995 of over US$ 16 billion. The ABB Group employs approximately 210,000 people with orders in 1995 of over US$ 36 billion.
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