Eneco Energy (SGX:R14) signed an exclusive distribution agreement for an engineering solution in multiphase transportation, according to a Monday filing with the Singapore Exchange.
Shares of the company surged over 11% in recent trading.
The agreement is expected to have broad industrial applications within the oil and gas sector, the filing said.
The company will start pilot testing in Indonesia during the second half of the year to validate key performance indicators, gather feedback and calibrate the system for broader deployment.
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