ENGlobal receives $6M extension to contract award
ENGlobal reported it has received an extension valued at $6M to perform additional work on a project that was initiated and announced in October of last year. ENGlobal has been engaged to provide process analytical engineering and related support services to assist in the restart of an idled oil refinery and terminal into a fully functioning and environmentally compliant facility. The Company's awards to date on this restart project now total approximately $12M, and the extension is expected to be performed over the next six months. ENGlobal has been called upon to execute the first of its customer's multiple phase plan - featuring a thorough upgrade to the analytical and instrumentation equipment at the refinery and terminal. Specifically, this work requires that ENGlobal provide home office engineering, detailed design, material procurement and an on-site installation and commissioning staff. The additional phases are expected to require similar services that will be performed in different areas of the facility until the refinery and terminal is successfully restarted and fully functional. "We sincerely thank our valued customer for their confidence in our abilities and performance to date, as demonstrated by this extension of our services," said Chairman and CEO William A. Coskey, P.E. "We are committed to providing excellent resources and successfully meeting the time critical schedule for restarting this facility. ENGlobal continues to seek out internal growth - to scale up our business through a focus on executing larger scopes of work. We are making progress on our modular systems strategy and have been successful in identifying and bidding numerous larger opportunities. In support of this point, we overall now have $275M of proposals outstanding that are awaiting customer decisions."