ABB Wins US$ 36 Million Oil and Gas Contract From Statoil; Five-Year Agreement Indicates Customer-Centric Organization is Paying Dividends.Business Editors ZURICH, Switzerland--(BUSINESS WIRE)--Nov. 27, 2001 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 , the global power and automation technology group, said today it has won a US$ 36 million, five-year contract with Norwegian Norwegian associated in some way with Norway. Norwegian buhund, Norwegian sheepdog a medium-sized (26-40 lb), spitz-type dog with a short, dense coat in wheaten, black, red or sable, sometimes with black markings on the face, ears oil company Statoil Statoil ASA (OSE: STL, NYSE: STO) is a Norwegian petroleum company established in 1972. It is the largest petroleum company in the Nordic countries and Norway's largest company, employing over 25,000 people. for the maintenance and modification of a gas treatment plant in Norway and platforms in the North Sea. "This is an important win for us," said Gorm Gundersen, executive vice-president and head of ABB's oil, gas and petrochemicals division. "We've been working hard to get closer to our customers, understand their businesses better and offer them the best technology for improving efficiency." The contract includes maintenance work, design engineering, construction and installation. The work will largely be done at Karsto gas treatment plant, north of Stavanger, and at the Draupner platforms in the North Sea. ABB has had similar contracts for Karsto and Draupner for the past five years. "Our strong performance on the previous contracts certainly helped us with the latest order," said Gundersen. "Long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. agreements like these are a staple 1. (language) STAPLE - A programming language written at Manchester (University?) and used at ICL in the early 1970s for writing the test suites. STAPLE was based on Algol 68 and had a very advanced optimising compiler. 2. of our business," added Gundersen. "They indicate that our partners are pleased with the technologies we are developing and are a testament to our ability to implement long-term strategies with our customers." The contract includes the option for three two-year extensions. ABB's oil, gas and petrochemicals division is a market leader in maintenance and modification work, and won a US$ 110 million contract in May for similar work with Norwegian energy resource group Norsk Hydro Norsk Hydro ASA (OSE: NHY, NYSE: NHY) is a Norwegian aluminium and renewable energy company, headquartered in Oslo. Hydro is the fourth largest integrated aluminium company worldwide. It has operations in some 40 countries around the world and is active on all continents. . The division won another contract in early November with Statoil, a US$ 23 million order to modify the Sleipner A platform in the North Sea. Among other recent orders was a US$ 95 million contract in September with Norway's Bergesen to build and operate offshore oil production units. The oil, gas and petrochemicals division employs 13,000 and had revenues of US$ 2,796 million and EBIT EBIT See: Earnings Before Interest and Taxes EBIT See earnings before interest and taxes (EBIT). of US$ 169 million in 2000. ABB (www.abb.com) is a global leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. ABB has 160,000 employees in more than 100 countries. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion