ABB JOINT VENTURE HAS TEXACO CONTRACT FOR CAPTAIN FIELD IN NORTH SEA.NORWALK, Conn.--(BUSINESS WIRE)--Dec. 22, 1994--ABB Asea Brown Boveri Ltd. (ABB n. 1. Among weavers, yarn for the warp. Hence, Noun 1. ABB - an urban hit squad and guerrilla group of the Communist Party in the Philippines; formed in the 1980s ) announced today that a joint venture of which it is a member has received a contract from Texaco to proceed with the development of the Captain oil field in the North Sea. The total value of the contract is in excess of $500 million; the value of ABBs part is about $170 million. The Captain field lies in the Inner Moray Firth Moray Firth Inlet of the North Sea, northeastern Scotland. It extends inland for 39 mi (63 km) and is 16 mi (29 km) wide at its widest point. Its inner reaches are divided by a peninsula, the Black Isle, into two smaller inlets, Cromarty Firth and the Firth of Inverness; the , approximately 150 kilometers north of Aberdeen, Scotland. Production is expected to begin by the end of 1996 and is anticipated to be some 60,000 barrels of oil per day. The partners of the joint venture are ABB Global Engineering Ltd., Stena Offshore Ltd. and UIE UIE User Interface Engineering UIE User Interface Environment UIE United International Enterprise Ltd Scotland Ltd., all of the United Kingdom, together with Spains Astano S.A. ABB has worked closely with Texaco from the initial engineering phase of this project and is responsible for project management, engineering and procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. . In addition, ABB will supply the production vessels process system and the equipment for the wellhead well·head n. 1. The source of a well or stream. 2. A principal source; a fountainhead. 3. The structure built over a well. wellhead Noun 1. platform. ABBs oil, gas and petrochemical businesses comprise ABB Global Engineering, ABB Offshore Technology, ABB Lummus Crest and ABB Vetco Gray. ABB Lummus Crest, the worldwide engineering and construction services firm, has U.S. offices in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the and Bloomfield, N.J. ABB Vetco Gray, a provider of oilfield drilling and production equipment, is also in Houston. The ABB Group, with headquarters in Zurich, Switzerland, provides products and services for power generation, transmission and distribution; industrial processes; and transportation worldwide. Its U.S. subsidiary, ABB Inc. located in Norwalk, Conn. had revenues of approximately $5.6 billion in 1993. CONTACT: Karen Armour
203/750-2217
203/655-9461 (residence)
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