DAILY NEWS Jul 14, 2014 1:35 PM - 0 comments

Halliburton forms fracking JV in China

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2014-07-14

Halliburton is to establish a joint venture company in Xinjiang, China with SPT Energy Group Inc. affiliate Petrotech (Xinjiang) Engineering Co. Ltd. to develop hydraulic fracturing (fracking) and production enhancement services.

 

Houston, Tex.-based Halliburton provides drilling services to oil and gas operators. This is Halliburton’s first joint venture for hydraulic fracturing services in China. Xinjiang will provide fracture stimulation services, including design and analysis, data acquisition and pumping and chemical services in the Xinjiang Uygur autonomous region.

 

Fracking frees gas from deep rock deposits by injecting wells with chemical-laden water at high pressure. The fracking boom has increased natural gas supplies and has transformed North American producers of resins such as polyethylene into some of the most cost-competitive producers in the world.



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