ABB to build $574-million gas processing plant in Algeria

ABB, the global technology company, confirmed today it has been awarded an order valued at US$ 574 million, together with Petrofac International Ltd. of the U.S., to design and build a natural gas processing plant for the Ohanet gas fields in Algeria.

Zurich, Switzerland, July 21, 2000 – ABB, the global technology company, confirmed today it has been awarded an order valued at US$ 574 million, together with Petrofac International Ltd. of the U.S., to design and build a natural gas processing plant for the Ohanet gas fields in Algeria. The order was placed by a consortium led by BHP Petroleum of Australia.

Under the terms of the contract, ABB is responsible for the design, procurement and construction of the plant, which will process natural gas into LPG (liquefied petroleum gas) and condensates used in fuel, chemical feedstocks, and other applications. The plant will have an output of 30,400 barrels a day (b/d) of condensate, 27,700 b/d of LPG and 665 million cubic feet a day of pipeline quality gas. Production from the plant is expected to begin in late 2003.

    ABB said the order reflects the strong position of its ABB Lummus Global unit in the upstream oil and gas processing market, and builds on the ABB Group’s proven track record in Africa, where it is playing a key role in energy infrastructure development. This is the first major order of the third quarter in the Oil, Gas and Petrochemicals segment after the record 47-percent increase in orders reported yesterday for the first half of the year. ABB’s Oil, Gas and Petrochemicals segment reported revenues in 1999 of about $3 billion, or about 12 percent of ABB Group’s total sales.

    The Ohanet fields lie on the northern edge of the Sahara desert, about 1,300 kilometers southeast of Algiers and 100 kilometers west of the Libyan border.

    The ABB Group serves customers in power transmission and distribution; automation; oil, gas, and petrochemicals; building technologies; and in financial services. With novel IT applications, tailored software solutions, growing eBusiness and a fast-expanding knowledge and service base, ABB is building links to the new economy. The ABB Group employs about 160,000 people in more than 100 countries. (End)

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      • John Fox
        ABB Corporate Communications, Zurich

        Tel: +41 1 317 7354

        Fax: +41 1 317 7958
      • John Chironna
        ABB Investor Relations, Zurich

        Tel: +41 1 317 7266

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