ABB awarded wellhead platform contract

Partnership will build and install deepwater platform off Angolan coast

Zurich, Switzerland, September 19, 2001 – ABB, the global power and automation technology group, in partnership with Heerema of Holland, has been awarded a contract by Esso Exploration Angola (Block 15) Limited (Esso) - a subsidiary of ExxonMobil Corporation - to design, build and commission a deepwater tension leg platform for the Kizomba A Project located in the deepwater Block 15 offshore Angola.

“We are extremely pleased with this contract in West Africa, a region that is crucial for future oil and gas development,” says Gorm Gundersen, executive vice president and head of ABB’s oil, gas and petrochemicals divison. “Developments in West Africa are evolving at the limits of current industry deepwater technology, experience and skill. This contract underscores ABB’s expertise, which is perfectly matched to West Africa’s unique logistical challenges.”

The contract will be executed by ABB from its Houston office and will also draw on resources from ABB operations in Africa, Europe and Asia, and key components will be manufactured in Angola.

Scheduled for completion in the third quarter 2003, the Kizomba tension leg platform will be anchored in water 1,250 meters deep. It’s the next generation of tension leg platform (TLP) design, a four-legged concept which allows customers to adjust surface wellhead solutions to local conditions. It can be built and commissioned onshore, installed in one piece and anchored to the seabed using a specially designed tethering system.

The hull and topsides will be integrated in Holland, and the completed unit transported to Angola for final installation.

ABB (www.abb.com) is a global leader in power and automation technologies enabling uttlities and industries to improve their performance while minimizing environmental impacts. ABB has 160,000 employees in more than 100 countries.

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