ABB Wins Major Statoil Contract

ABB has 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.

"Most of the maintenance and modification work on the Norwegian continental shelf is regulated through long-term agreements like these," says Gorm Gundersen, ABB executive vice president and head of the Oil, Gas and Petrochemicals division. "Our considerable experience in the industry and the value we have delivered customers in the past were key factors in shoring up this contract."

The five-year platform contract is for Troll A, four Sleipner platforms and Veslefrikk. The terms also include Huldra and Kvitebjorn platforms in the initial stages of the agreement. The contract has options for three two-year extensions and covers project management, engineering, procurement, fabrication and installation work. Implementation starts immediately, and is expected to be in full operation from the third quarter of 2002.

For the past seven 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.