Graphene NanoChem PLC Commercial deployment in Turkmenistan (4203Y)
March 03 2017 - 1:00AM
UK Regulatory
TIDMGRPH
RNS Number : 4203Y
Graphene NanoChem PLC
03 March 2017
For Immediate Release 3 March 2017
Graphene NanoChem PLC
("Graphene NanoChem" or the "Group")
Commercial deployment in Turkmenistan
Graphene NanoChem (AIM:GRPH), the international provider of
nanotechnology performance enhancing solutions for global
industries, is pleased to announce that the Group has received a
firm commitment for the deployment of PlatSurF, its oilfield
recovery additive, from a Middle Eastern oil and gas company. The
client will be using PlatSurF to improve production from its
existing oil wells in Turkmenistan.
Highlights:
-- New commercial territory entered in Turkmenistan
-- Latest PlatSurF win follows the successful deployment in
Myanmar, as previously announced, and is considered testament to
the quality of product range
-- First purchase order valued at US$118,800 - deployed for use
in 1 trial oil well
-- The client has oil well rejuvenation needs for up to 110 oil
wells
PlatSurF, a nano-emulsion fluid, is used to remove residues,
remediate oil blockages and improve hydrocarbon flow passages in
open-hole or cased-hole drilling. It can be used in previously
damaged oil wells in order to improve production rates by reducing
wastes and residues generation.
The first commercial order received for the trial, valued at
US$118,800, will be deployed for use in one oil well in Q2 2017.
The client has oil well rejuvenation needs for up to 110 oil wells
in Turkmenistan and, upon successful trial, the Group shall
commence negotiations for further purchase orders for the balance
of their oil wells for utilisation over the next 12 - 24
months.
Jespal Deol, Chief Executive Officer of Graphene NanoChem,
commented: "Our latest commercial win is a further testament to the
commercial benefits and quality of our products range. This new
contract marks another significant milestone for the Group as we
continue to gain market validation and traction for our
products."
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCLIFVEVFIVIID
(END) Dow Jones Newswires
March 03, 2017 02:00 ET (07:00 GMT)
Graphene Nano (LSE:GRPH)
Historical Stock Chart
From Apr 2024 to May 2024
Graphene Nano (LSE:GRPH)
Historical Stock Chart
From May 2023 to May 2024