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US oil & gas MNC Halliburton in China fracking JV

US oil and gas services giant Halliburton on Friday announced its first joint venture for hydraulic fracturing services in China, teaming up with private Chinese firm SPT Energy Group. Halliburton said it had signed an agreement with the SPT affiliate, Petrotech Engineering, to create a joint-venture company focused on hydraulic fracturing and production enhancement services in Xinjiang in China’s far west.
The JV, 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. Fracking is a technique in drilling using a mixture water, sand and chemicals injected at high pressure into a wellbore to fracture deep-rock formations and extract deposits of natural gas and oil.
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