Primoris Services Announces Oil And Gas Contract Extension
September 17, 2009 (FinancialWire) — Primoris Services Corp.’s (NASDAQ: PRIM) (NASDAQ: PRIMU) (NASDAQ: PRIMW) wholly-owned subsidiary, ARB, Inc., claims it has signed a three-year extension of a Master Service Agreement (MSA) with one of the largest oil & gas companies in the world.
Under the terms of the agreement, ARB will perform general maintenance, repair work, and new pipeline construction, as requested by the client, in the state of California. Primoris estimates that this MSA may generate a total of $45 to $50 million in revenues over the three year period ending September 2012.
ARB installs large diameter pipelines for the transmission of natural gas, crude oil, chemical, petrochemical and refined petroleum product. The company provides construction services pertaining to all aspects of pipeline installation, replacement, and rehabilitation. ARB has developed the expertise to build pipelines through environmentally sensitive areas, congested city streets, and cross-country including valleys, deserts, mountains, rainforests, rivers and bays throughout North, Central, and South America.
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