ABB Wins Visund Contract in North Sea

ABB has won a three-year, US$ 80 million contract from Norsk Hydro. Under the terms of the agreement, ABB will design, construct and install two large modules on the Visund oil platform in the North Sea - one containing equipment to increase gas injection rate and raise oil production, the other to allow gas exports from the platform The platform is located 120 kilometers offshore Norway's western coast. ABB will also provide project management.

"This is another signal of growing customer confidence in our technology and experience in this field," said Erik Fougner, head of ABB's Oil, Gas and Petrochemicals division. "Building big modules with complex modifications offshore has become one of our specialties."

Work on the order starts immediately and is due to be completed in 2005 when the two modules, weighing 670 and 300 tons, are installed on the Visund platform. ABB built the platform for Norsk Hydro in 1999.