Contract Award

RNS Number:2592J
Abbot Group PLC
27 March 2003

                                                                   27 March 2003


                  Abbot Awarded Platform Drilling Contract By
                            BP, Offshore Azerbaijan


Abbot Group plc ("Abbot"), the international energy services provider, announces
that its drilling subsidiary KCA DEUTAG has been awarded an interim arrangement
by BP Exploration (Caspian Sea) Limited, on behalf of the Azerbaijan
International Operating Company (AIOC) operated by BP, relating to the provision
of platform drilling services for the development of the Azeri, Chirag and
Deepwater Gunashli (ACG) Fields, in the Azerbaijan sector of the Caspian Sea.

This agreement, which is effective from 1 January 2003, is expected to lead to
the award of a formal contract in the near future, with an estimated value of
approximately US$75 million.

The contract requires KCA DEUTAG to carry out platform drilling services for a
primary contract duration of 5 years from commencement of drilling operations on
the Central Azeri platform scheduled for mid 2004. Earlier this year, in
preparation for the start of operations, KCA DEUTAG began a comprehensive
recruitment and training programme for about 125 persons, of which about 70%
will be Azerbaijan nationals.

The design for the Central Azeri drilling facilities has already been completed
by KCA DEUTAG.  It includes several major safety improvements including the
provision of mechanised drill floor handling arrangements and advanced drilling
control systems designed to protect personnel from potential safety hazards.

Alasdair Locke, Executive Chairman of Abbot Group plc, commented:

"We are extremely pleased to continue to expand upon our existing contracts with
AIOC  since it is justification for our long term commitment to Azerbaijan as a
major business opportunity.  This contract will complement our existing AIOC
platform drilling services contract for the Chirag Early Oil Project, which
commenced in 1997, and our other Azerbaijan engineering contracts currently
being carried out in London and Paris for the Azeri and Shah Deniz Field
Developments.

"This contract confirms KCA DEUTAG as being a major international drilling
contractor for both onshore and offshore exploration and field development
projects."

AIOC announced project sanction for the Central Azeri (Phase 1) development of
the Azeri, Chirag and Deepwater portion of the Gunashli Field (ACG) in August
2002 at a cost of US$3.4 billion.  ACG Participating Interests are: BP (operator
- 34.1%), SOCAR (10.0%), Unocal (10.3%), LUKoil (10.0%), Statoil (8.6%),
ExxonMobil (8.0%), TPAO (6.8%), Devon (5.6%), Itochu (3.9%), Delta Hess (2.7%).


For further information:

Alasdair Locke                                 Peter Willetts
Executive Chairman                             Justin Griffiths
Abbot Group plc                                Tavistock Communications Limited
Tel: [phone]                             Tel: [phone]




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