DALLAS, Oct. 29, 2018 (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) today announced a renewal of an existing Master Service Agreement (“MSA”) with a major oil producer with a three year anticipated value of approximately $90 million. The contract was secured by ARB Industrial, part of the Power, Industrial, and Engineering segment.

• The award is a three-year agreement to perform oil field maintenance services for a major California oil producer.
• This award is a renewal of an existing agreement that was scheduled to expire in December 2018.
• This award will provide for continued, uninterrupted coverage of the oil field maintenance services that ARB has successfully executed for this client to date.
• The work includes multiple properties located throughout Southern Central California.
• Primoris estimates that the expected annual revenue from this contract is approximately $30 million per year over the course of the contract. While the agreements do not obligate the customer to award Primoris a specific dollar amount, our discussions with the customer and our history with similar clients form the basis for our anticipated value.

ABOUT PRIMORIS
Founded in 1960, Primoris, through various subsidiaries, has grown to become one of the largest publicly traded specialty construction and infrastructure companies in the United States. Serving diverse end-markets, Primoris provides a wide range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to major public utilities, petrochemical companies, energy companies, municipalities, state departments of transportation, and other customers. Growing both organically and through acquisitions, the Company’s national footprint now extends nearly nationwide and into Canada. For additional information, please visit www.prim.com.