It is a paid trial under the group's deal with Scomi Oiltools and the product is due to be used in three wells in work due to complete in the first quarter of 2016.
GraphSolve is used to treat drill cuttings waste on-site, thereby ridding the costly need to transport and treat material away from the well.
Drilling generates between 300 MT (Metric ton) and 600MT of cuttings per well.
The latest product can reduce treatment costs by between US$70 and US$200 per MT of cuttings.
Its dual chemistry function effectively reduces the oil content in the cuttings to less than 1% to meet environmental regulations for on-site disposal
It also speeds up the biodegradation process to within 8 - 12 weeks, providing cost savings to operators and an improved carbon footprint.
Graphene's chief executive Jespal Deol said: "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."
Graphene and Scomi Oiltools, one of the Asia’s largest oilfield services companies, have a joint venture covering a number of oilfield drilling lubricants and products.
Earlier this month, Graphene won a US$384,000 order for its water-based drilling additive PlatQuartZ from a Middle East oil company working in Turkmenistan.
Shares were unchanged today at 13.25p.