27th Mar 2015 13:49
LONDON (Alliance News) - Graphene NanoChem PLC Friday said its PlatDrill series is about 25% more biodegradable than guidelines request after it was tested over a nine-month period.
The PlatDrill series is an enhanced drilling fluid that aims to deliver superior performance with lower environmental impact as well as better lubricity, load bearing capacity and higher viscosity properties.
For the past nine-months, the Council of Scientific and Industrial Research, part of the National Institute of Oceanography in India, has been testing PlatDrill and came to the conclusion that at 84.81%, the biodegradability of PlatDrill is about 25% higher than the standard specified by the Organisation for Economic Co-operation and Development.
Based on this biodegradation rate, the PlatDrill Series has been classified as "readily" biodegradable with a non-toxic ranking, said Graphene NanoChem. "Readily" biodegradable refers to a substance that degrades efficiently and completely.
As offshore oil exploration increases, water and environmental contamination risks arising from the increased use of drilling fluids, gas and discharge of drilling waste mud and drill cuttings into the marine environment has resulted in more stringent environmental restrictions in the chemicals and substances used for drilling.
"The readily biodegradable classification and non-toxic ranking of the PlatDrill Series enables the group to meet the technical and environmental performance of modern days drilling requirements, helping the industry reduce its environmental risks and overall drilling costs from waste treatment savings," said the company.
The company also said the classification will also help it push into the Gulf of Mexico market, which is "highly environmentally regulated market".
Graphene NanoChem shares were up 3.4% to 34.75 pence per share on Friday afternoon.
By Joshua Warner; [email protected]; @JoshAlliance
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