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Graphene NanoChem Secures PlatSurF Additive Order In Myanmar

Wed, 25th May 2016 08:16

LONDON (Alliance News) - Graphene NanoChem PLC on Wednesday said it has received a firm commitment for the deployment of its PlatSurF oil recovery additive in Myanmar.

The company said the additive will be deployed in a two-year, 16 to 18 well drilling programme in Myanmar by an unnamed oil and gas company. The order follows successful field trials.

The first purchase order is valued at GBP198,864 and covers four wells, the company said.

"Our latest commercial win is a further testament to the quality of our products range and this marks another significant milestone for the group as we continue to gain market validation and traction for our products despite the slowdown in the industry," said Jespal Deol, Graphene NanoChem's chief executive.

Shares in Graphene NanoChem were up 7.7% to 14.00 pence on the news.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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