ABB wins Statoil contract extension worth nearly US$ 34 million

Agreement to provide safety and automation systems extended two years

Zurich, Switzerland, July 3, 2003 - ABB, the leading power and automation technology group, has won a two-year contract extension worth nearly US$ 34 million to continue providing Statoil of Norway with support, service, maintenance, spare parts and modifications at all of its installations.

“The extension of this contract is a vote of confidence by Statoil in ABB,” said Dinesh Paliwal, head of ABB’s Automation Technologies division. “Our considerable experience in the oil and gas sector plus the value we deliver to our customers were key factors in the decision to extend the agreement.”

ABB and Statoil originally signed a safety and automation agreement in 2000. This two-year extension takes effect on July 1, 2003.

In May 2002, ABB signed a US$ 330 million contract with Statoil for maintenance and modification of six offshore oil and gas platforms in the North Sea, as well as the onshore Kollsnes processing plant. For the past eight years, ABB has held the maintenance and modification contract for the Troll and Sleipner offshore fields, as well as the Kollsnes plant on Norway's west coast.

The contract extension covers Statoil's offshore installations Veslefrikk, Troll A, Gullfaks, Sleipner and Draupner, as well as the onshore processing plants Kollsnes, Mongstad, Tjeldbergodden and Kaarstoe including Bygnes.

ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impacts. The ABB Group of companies operates in around 100 countries and employs about 135,000 people.

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