Re Contract

ABB Ltd
27 November 2001


ABB wins US$36 million oil and gas contract from Statoil

Five-year agreement indicates customer-centric organization is paying dividends

Zurich, Switzerland, November 27, 2001 - ABB, the global power and automation 
technology group, said today it has won a US$36 million, five-year contract with
Norwegian oil company Statoil 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 agreements like these are a staple 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. 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 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.


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