PR Newswire | Oct 4, 2021 05:00PM EDT

Contract From Chevron

10/04 16:00 CDT

Team, Inc. Awarded Multi-Year Upstream Mechanical Inspection And Integrity Contract From Chevron SUGAR LAND, Texas, Oct. 4, 2021

SUGAR LAND, Texas, Oct. 4, 2021 /PRNewswire/ -- Team, Inc. ("TEAM") (NYSE: TISI), a leading global provider of asset performance management solutions including digital enablement, announced today that it has been awarded a multi-year contract from Chevron Corporation (NYSE: CVX) to provide inspection, testing and analytics as part of their industry-leading mechanical integrity program.

"We are looking forward to the opportunity to expand upon our existing relationship with Chevron to incorporate their upstream assets into our mechanical integrity solutions program," said Amerino Gatti, TEAM's Chairman and Chief Executive Officer. "This contract award is a result of a long-term partnership and track record of successful collaboration. Our new Asset Integrity & Digital Group will work closely with Chevron to provide technology-enabled inspection services and engineering assessment solutions.

"We continue to see growing demand from our upstream clients for TEAM's service offerings as increased importance is placed on emissions compliance, maintaining wellhead integrity, and eliminating emissions leaks. Our unique ability to provide an integrated solution of integrity, reliability and mechanical repair, as well as leveraging our local presence, allows TEAM to be a leader in asset integrity and performance assurance," concluded Mr. Gatti.

As part of the contract, TEAM's digital solutions business will integrate Chevron's upstream assets into the OneInsight(tm) platform, providing comprehensive integrity and reliability services that include preventative on-site repair and remediation solutions.

About Team, Inc.

Headquartered in Sugar Land, Texas, Team Inc. (NYSE: TISI) is a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions. We deploy conventional to highly specialized inspection, condition assessment, maintenance and repair services that result in greater safety, integrity, reliability and operational efficiency for our client's most critical assets. Through locations in more than 20 countries, we unite the delivery of technological innovation with over a century of progressive, yet proven integrity and reliability management expertise to fuel a better tomorrow. For more information, please visit www.teaminc.com.

Contact:Kevin SmithSenior Director, Investor Relations(281) 388-5551

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SOURCE Team, Inc.