Shares in engineering and procurement firm Synertec soared as much as 24.4% to A$0.255, potentially marking its best day since August 8.

Synertec (ASX:SOP) has announced that Santos intends to proceed with additional commercial orders of its groundbreaking technology for the Gladstone liquefied natural gas joint venture.

This technology is expected to be deployed to greenfield well sites across Queensland.

Meanwhile, Synertec’s shares hit their highest value since June 6, with over 1.3 million shares changing hands - six times the company’s typical 30-day trading volume.

Despite today’s surge, the company’s shares have seen a decline of 18% throughout this year.

The shares of Santos also saw a significant rise, jumping as much as 4% to A$7.645.

Synertec is an engineering and procurement firm specializing in developing advanced technological equipment and infrastructure.