ABB wins US$ 160-million contract for subsea oil installations

Major North Sea oil and gas development order for ABB

Zurich, Switzerland, April 22, 1998 - ABB, the international electrical engineering group, has been awarded a contract to build complete subsea installations for the Snorre B oilfield development on the Norwegian continental shelf. The contract, awarded by Saga Petroleum ASA, Norway, amounts to US$ 160 million and includes options for future expansion valued at an additional US$ 100 million. Snorre B is located in the northern part of the Snorre field, at a depth of 350 meters. Work will commence immediately.

Under the terms of the contract, ABB will provide engineering, procurement, as well as contracting and will be responsible for the full installation. The company will deliver four templates with manifolds, wellhead, trees and control systems for 27 subsea wells as well as control umbilicals. ABB’s modular subsea system technology allows Snorre B to be developed more cost-efficiently, safer and faster than using conventional technology.
ABB’s global oil, gas and petrochemical business, with orders in 1997 of more than US$ 3 billion, develops and supplies off shore installations, refineries and composite petrochemical plants worldwide.
The Snorre B award follows orders for complete subsea oil and gas systems in the Balder, Asgard and Troll fields, all in the Norwegian Sector of the North Sea.
The ABB Group employs approximately 213,000 people with orders in 1997 of about US$ 35 billion. (End)

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