This item is given to you by Scotty Malm during a conversation following the action in The Messenger.
When used/consumed, this item grants a 15 minute transmogrification into the form of an Abyssal Sobek. The form will withstand movement and harvesting but not the use of any of your skills.
There is no reason not to go ahead and use the item to harvest in the area, then leave. It serves no use later in the storyline.