Nu-Oil and Gas confirmed that Marginal Field Development Company, in which it owned a 50% stake, had entered into a collaboration agreement with Siemens.
The German engineering group had become the second company following Marnavi Offshore to join MFDevCo's gas-to-wire initiative.
The effort was part of MFDevCo's strategy to maximise the recovery and value of resources within fields currently considered stranded or marginal.
Under the terms of the agreement, Siemens would provide information and support to secure projects in return for an exclusive first option to provide equipment and services.
At 8:15am: (LON:NUOG) Nuoil And Gas Plc share price was +0.03p at 0.65p