Halliburton in fracking joint venture in China

US oil and gas services giant Halliburton has announced its first joint venture for hydraulic fracturing services in China, teaming up with private Chinese firm SPT Energy Group. Halliburton on Saturday said it had signed an agreement with the SPT affiliate, Petrotech Engineering, to create a joint-venture company focused on hydraulic fracturing, commonly known as fracking, and production enhancement services in Xinjiang, in China’s far west. The new company, Xinjiang HDTD Oilfield Services, will provide fracture stimulation services, including design and analysis, data acquisition, and pumping and chemical services in the Xinjiang Uighur Autonomous Region, Halliburton said in a statement. Seventy-five per cent of the market share in high-end completion services in the field was achieved through SPT’s collaboration with Halliburton over the past seven years, and the market for horizontal drilling and fracturing services is
increasing rapidly,’ the Texas-based company said, according to AFP.