RE: 3p11 Sep 2017 14:22
Graphene NanoChem PLC
("Graphene NanoChem" or the "Group")
PlatDrill Deployment In Myanmar
Graphene NanoChem (AIM:GRPH), the international provider of nanotechnology performance enhancing solutions for global industries, is pleased to announce that the Group has received two purchase orders for a total of 4,000 barrels of PlatDrill R, valued at US$589,680, for deployment in the near term in Myanmar for a leading oil and gas company.
The Company is particularly encouraged by this purchase order, as it is a further indication that confidence is returning to the sector with major oil and gas companies resuming drilling activities. The Group is working closely with Scomi in expanding the deployment of PlatDrill and are optimistic that further orders will follow in due course.
A "smart" fluid, PlatDrill offers a unique integrated solution in drilling speed and quality as well in environmental and economic performances that meets the requirement of this market that is underlined by cost and environmental considerations. The combined performance and low toxicity and biodegradability function of PlatDrill offers significant advantage as a most viable alternative to OBM for shale drilling in the region in the immediate and long term.
Jespal Deol, Chief Executive Officer of Graphene NanoChem, commented: "We are pleased to announce our latest commercial orders from Myanmar and see huge potential market opportunity from the resumption of drilling activity. These orders are a continuing validation of our products value proposition and is another milestone for Graphene NanoChem and its ongoing partnership with Scomi Oil."