Graphene Nanochem PLC (fka GRPEF)

[jupp]

Graphene NanoChem's PlatsurF deployed

4 March 2015 | 14:15pm
StockMarketWire.com - Graphene NanoChem has announced the commercial deployment of its oilfield recovery additive (PlatsurF) as the group continues to execute its go-to-market channel via its joint venture partner, Scomi Oiltools.

Highlights:

· Order from Scomi Oiltools for an international oil company end customer serviced by Scomi Oiltools for an approximate 50-well drilling programme in Thailand · Initial deployment of 40 drums of recovery additive for 2 wells in Thailand as part of the initial phase of field introduction under a change order process with Scomi Oiltools for product substitution

· The revenue from the initial purchase order for 40 drums is estimated to be US$162,000

Oilfield recovery additive offers a unique nanoemulsion solution to remove blockages caused by drilling residues or from production waste and is a solution to shortfalls in production caused by formation damage. The smartfluids solution vastly improves production rates in previously damaged wells with reduced waste generation. The Scomi Oiltools, order book currently stands at RM5.3bn and together with its existing contract base with national and international oil companies provides a significant market opportunity for the joint venture in terms of product substitution. The partnership with Scomi has enabled the Group to significantly minimise its marketing and adoption risk and accelerate the commercial deployment of its products via Scomi Oiltools' existing customer base.
www.stockmarketwire.com/article/4989045/Graphene-NanoChems-PlatsurF-deployed.html