ABB wins US$25mn Statoil project

Oil IOTABB's Ability will help safe and efficient operation of Statoil's project. (Image source: 139752446/ Adobe Stock)Engineering conglomerate ABB said it had won an order worth US$25mn to supply ABB Ability, the company’s digital offering to manage industrial operations, for Statoil’s Johan Castberg oil field development project in Norway

The company said the product would help the Norwegian oil major reduce capital expenditure for the project “significantly”.

Industrial companies like GE and ABB are looking to grow higher-margin businesses in areas such as automation and internet of things even as they grapple with softer demand for their traditional products and services from energy sector customers.

Zurich-based ABB’s Ability will help Statoil with safe and efficient operation of the offshore Floating Production, Storage and Offloading production vessel (FPSO) for the project.

“Digitalization and advanced safety and automation systems are key to safer, more efficient, more reliable and more environmentally friendly operation of oil, gas, and chemical facilities. Combined with our vast experience in advanced process control, and subsea and power systems, project execution is streamlined, cost are reduced, and long-term operations are safer and more efficient,” said Per Erik Holsten, managing director ABB oil, gas, and chemicals.

The field, located in the Barents Sea, north of the Arctic Circle, will begin operations in 2022 and will have an estimated production lifespan of 30 years. ABB’s deliveries will start in late 2018.

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