Verbrec Secures $21M Contract in Beetaloo Basin
Key points
- Verbrec awarded $21M contract for pipeline upgrade
- Project to unlock Beetaloo Basin gas supply
- Reinforces Verbrec's focus on customer relationships
Full summary
Verbrec Limited has been awarded the McArthur River Pipeline Bi-Directional Upgrade Project by the Northern Territory Government's Power and Water Corporation, with a total value of approximately $21 million. The project, aimed at enhancing gas supply from the Beetaloo sub-basin, will be executed in two stages, with Stage 1 targeted for completion in 2026 and Stage 2 in 2028. The initiative is expected to bolster energy security in the Northern Territory and support significant new gas developments in Australia. Verbrec's role will involve comprehensive engineering, procurement, and construction services to deliver new infrastructure, including a third-party connection, pressure reduction skid, metering facilities, and a gas compression facility at Daly Waters.
Guidance
Verbrec expects the contract to significantly contribute to its financial performance.
Outlook
Verbrec anticipates that the project will enhance its reputation and strengthen its position in the energy sector, potentially leading to further opportunities.
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