ABB wins US$ 23-million North Sea oil and gas order

Technology group to modify platform for Statoil, confirms lead in modification market

Zurich, Switzerland, November 1, 2001 – ABB, the global power and automation technology group, said today it has won a US$ 23 million contract from Statoil of Norway to modify the Sleipner A platform in the North Sea.

“We are happy to receive this contract, which confirms ABB’s position as a leading player for undertaking large modifications on platforms during operations,” says Gorm Gundersen, executive vice president and head of ABB’s oil, gas and petrochemicals division.

The modifications will connect Sleipner A to oil and gas recovered from the new Sigyn field. According to the contract, ABB will do engineering work, procurement, construction and installation of a new deck structure. In addition, ABB will prepare and install the actual pipeline tie-in to Sleipner A, and perform other modification work during a planned platform shutdown in 2002.

ExxonMobil operates the Sigyn oil field, located 12 kilometers southeast of the Sleipner A platform. The field is being developed as a subsea solution, and oil and gas recovered from it will be transported to Sleipner A for processing and export to the market.

ABB has already begun work on the project, which is scheduled for completion in March 2003. At its peak, 150 people will work on the contract.

In the last few weeks, ABB won a major wellhead platform contract off the Angolan coast, US$ 95 million in orders to build and operate offshore oil production units for Norway’s Bergesen and a US$ 93 million contract to build a gas compressor in Algeria.

ABB (www.abb.com) is a global leader in power and automation technologies that enable utility and industry customers to improve performance while lowering their environmental impact. ABB has 160,000 employees in more than 100 countries.

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