) was recently selected as the primary electrical contractor for
a new semi-submersible central processing facility at the Ichthys
oil and gas field in Australia. The scope of the contract
primarily includes providing a comprehensive electrical solution
for the entire central processing facility. ABB intends to
provide compact solution comprising a wide-range of its power
products and systems.
At the central processing facility, gas from the field will go
through initial processing in order to remove water and other raw
liquids. This extraction also includes a large proportion of the
condensate, which will be pumped to a floating production,
storage and offloading vessel, from where it will be transferred
to tankers for delivery to markets. The gas will be transported
from the central processing facility through an 885 km pipeline
to an onshore liquefied natural gas processing plant situated
near Darwin, Australia.
The contract is the second major agreement that ABB has been
awarded for the Ichthys oil and gas project. Last year, ABB
received orders worth $80 million to supply power technologies
and medium voltage drive systems for the new onshore LNG
processing plant near Darwin.
The contract is valued at $15 million and is expected to be
completed in 2016. ABB was awarded this contract by Samsung Heavy
Industries, the primary engineering, procurement and construction
contractor for the central processing facility at the Ichthys oil
and gas field.
Located in the Timor Sea off Western Australia, the Icthys oil
and gas field has a life span of 40 years and contains
approximately 12.8 cubic feet of gas and 527 million barrels of
condensate. Although in the initial stages, the Ichthys oil and
gas field will be producing 8.4 million metric tons of liquefied
natural gas and 1.6 million metric tons of liquefied petroleum
gas per anum along with about 100,000 barrels of condensate a day
at maximum production capacity.
Based in Zurich, Switzerland, ABB Ltd. is a power and
automation technology company and currently has a Zacks Rank #2
(Buy). Some other players in the same industry, which can be
considered buying at the moment are
Chicago Bridge & Iron
). Another player
Orion Marine Group
) has a Zacks Rank #1 (Strong Buy).
ABB LTD-ADR (ABB): Free Stock Analysis Report
CHICAGO BRIDGE (CBI): Free Stock Analysis
FRANKLIN ELEC (FELE): Free Stock Analysis
ORION MARINE GP (ORN): Free Stock Analysis
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