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Graphene NanoChem lands first commercial order for Confi-Gel

Published: 03:25 20 Jan 2016 EST

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ConfiGel is an additive for drilling fluids.

Graphene Nanochem (LON:GRPH) has told investors that it has received its first commercial order for the Confi-Gel product.

The US$33,300 order comes after the customer Scomi Oiltools carried out six months of testing on the Confi-Gel product, which is a nano-engineered gelling agent or viscosifier used in oil drilling.

Scomi intends to use the product in Pakistan during the first quarter of this year, before moving it gradually into operations in Turkmenistan, Indonesia, Thailand, Vietnam, Myanmar and India.

"Today's news marks another milestone for the group and is in line with our strategy of developing the mainstream market for our products range,” said Jespal Deol, Graphene Nanochem chief executive.

“The oil and gas market has suffered significant downturn from the volatility of oil prices and the fact that our product addresses the industry pain-points has generated significant traction in the commercialisation of our oil and gas product range.”

Confi-Gel is used as an additive in base-drilling fluids. It decrease fluid loss to the well surroundings and ensure wellbore stability throughout the drilling activity, the company explained.

Graphene Nanochem added that the product provides a superior performance as a viscosifier because of its microstructure. Viscosifiers form a significant component of drilling fluids, it added.

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