PearlStreet renews five-year Esso contract

Perth-based asset management company PearlStreet Ltd has renewed its testing and inspection services contract with Exxon Mobil subsidiary Esso Australia Pty Ltd, signing on to provide them until 2012.

The full text of a company announcement is pasted below

Energy and resources sector asset services contractor, PearlStreet Limited ("PearlStreet") (ASX: PST) is pleased to announce that is has executed the renewal of its five year contract with Esso Australia Pty Ltd (Esso) a subsidiary of Exxon Mobil Corporation.

Under the contract, PearlStreet's asset integrity division PearlStreet ETRS Pty Ltd, will provide non-destructive testing and inspection services at Esso's Longford and Long Island Point production facilities in Victoria and offshore production platforms in the Bass Strait through to 2012.

PearlStreet Managing Director Anthony Wooles said the Company was delighted to extend its long standing working partnership with Esso.

"The contract represents a significant milestone in PearlStreet's working relationship with Esso and demonstrates this key customer's continued confidence in the value of our services," Mr Wooles said.