ABB gets $260-million offshore gas
19 Sep 2000
ABB has won a $260-million contract to design the offshore Khuff gas project in Abu Dhabi, United Arab Emirates for an operating arm of the Abu Dhabi National Oil Company (ADNOC). ABB said the scope of contract includes modifications and technology upgrades of 13 existing gas platforms and the construction of two new platforms. The platforms have topside weights of 4,400 tons and 1,200 tons and are being developed and constructed in water that is between 20 and 30 metres deep.
ABB was awarded the contract by ADMA-OPCO, an operating arm of ADNOC, which is located in Abu Dhabi. ADNOC's 70% owned construction company, National Petroleum Construction Company (NPCC), is the designated fabricator and constructor for the project.
The contract follows closely behind four key deals. ABB has also recently agreed to invest US$ 100 million in Sinopec Corp., Asia's largest refiner, through an Initial Public Offering (IPO). Late last month, the group announced it had entered a majority-owned joint venture to acquire a polypropylene technology that will extend its petrochemical business.
In late July, ABB won a US$ 574 million order, together with Petrofac International Ltd. of the US, to design and build a natural gas processing plant for the Ohanet gas fields in Algeria. And, in June, the group said it had agreed to buy the oil and gas activities – as well as the installation business – of Umoe ASA, a leading Norwegian service company in the oil and gas industry.
The ABB Group are on the web at www.abb.com
