Verbrec (ASX:VBC) secured about AU$16 million in new energy security contracts, taking its project awards volume to over AU$36 million since the start of the current fiscal year, according to a Tuesday filing with the Australian bourse.
The new contracts include a AU$6.8 million award related to the in-line inspection of a 150-kilometer pipeline in Queensland, with work due to be completed by the end of March 2028.
The company also secured AU$8.8 million in other key energy security projects, including AU$2.7 million for the engineering, procurement, and construction phase of a pipeline realignment construction project in South Australia, AU$3.2 million for maintenance works in the Northern Territory, Queensland, and Victoria, as well as AU$1.6 million for an operational technology cyber security uplift program.
Additionally, Verbrec started early-stage design on compression and pipeline projects in Western Australia with a contract value of AU$1.3 million.
The company's share gained 4% in recent Tuesday trade.