22 May 2017 12:54
For Immediate Release | 22 May 2017 |
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."
For further information:
Graphene NanoChem | Tel: +603 2282 3080 |
Jespal Deol, Chief Executive Officer | |
Panmure Gordon (NOMAD and Broker) | |
Adam James / Tom Salvesen | Tel: +44 (0) 20 7886 2500 |
Yellow Jersey PR Limited (Media) | Tel: +44 (0)7544 275 882 |
Charles Goodwin / Harriet Jackson |
About Graphene NanoChem
Graphene Nanochem plc (AIM: GRPH), is an international provider of nanotechnology performance enhancing solutions for global industries. The Group employs nanoprocesses and nanomaterials to design, engineer and enhance the performance of mainstream products for a wide range of industrial applications. It has established two major functional platforms in the energy and water sectors, and the Group, through partnerships with established industry players, is focused on building market opportunities in both sectors whilst continuing its developmental work in other strategic application areas of nanotechnology.
Headquartered in Malaysia, Graphene Nanochem was admitted to the AIM of the London Stock Exchange on 26 March 2013, following the reverse acquisition of Biofutures International plc, and trades under the symbol GRPH.L. To find out more, please visit www.graphenenanochem.com.