Primoris secures $90M maintenance renewal deal

ConDig (30-Oct-18).  Dallas, Texas-based construction and infrastructure company Primoris Services Corp has bagged a $90 million maintenance renewal contract with an unnamed oil producer.

The three-year master service agreement will see the company perform oil field maintenance services for a major California oil producer. The deal is a renewal of an existing agreement that was scheduled to expire in December this year.

Under the contract, Primoris will provide for continued, uninterrupted coverage of the oil field maintenance services.

In August, Primoris announced that it had secured a number of pipeline and underground contracts worth a total of $145 million.

It comes as latest figures from the Commerce Department showed that US construction expenditure continued to post gains in August as a surge in government sector spending offset drops in the residential and private segments.

Construction spending edged up 0.1% from July to August and 5.3% for the first eight months of this year compared with a year ago. This took total construction to a seasonally adjusted annual rate of $1.32 trillion, which was down 0.4% from a record high set in May.