2nd Nov 2015 08:34
LONDON (Alliance News) - Graphene NanoChem PLC on Monday said the first paid field trial of its GraphSolve oilfield product is to be conducted following a purchase order for the product from Scomi Oiltools for a field in Myanmar.
GraphSolve is used to treat drill cuttings waste on-site for oil companies, taking away the need to transport and treat the waste at off-site facilities.
The first trial is due to complete by the end of the first quarter of 2016 and is expected to be used at three wells in Myanmar.
"The advanced paid field trial of GraphSolve by the end customer after successful lab testing provides a strong testament to the performance of our products as we continue expanding our product lines and market reach," said Jespal Deol, Graphene NanoChem's chief executive.
Graphene NanoChem shares were up 9.4% to 14.50 pence on the news, one of the best performers in the AIM All-Share in early trade.
By Sam Unsted; [email protected]; @SamUAtAlliance
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