Halliburton has signed an agreement with the SPT Energy Group Inc. affiliate, Petrotech (Xinjiang) Engineering Company, to establish a joint venture company focused on hydraulic fracturing and production enhancement services in Xinjiang, China.
The new company, Xinjiang HDTD Oilfield Services Co., will provide fracture stimulation services, including design and analysis, data acquisition, and pumping and chemical services in the Xinjiang Uygur Autonomous Region.
This is Halliburton’s first joint venture for hydraulic fracturing services in China.
A ceremony was held at the China World Hotel in Beijing to celebrate the establishment of Xinjiang HDTD Oilfield Services. An estimated 200 guests representing the oil and gas industry in China, as well as a number of local government officials, attended the event. Halliburton Chairman, President and CEO Dave Lesar delivered the keynote address.
Lesar commented: “Halliburton looks forward to strengthening our partnership with SPT Energy Group by bringing a suite of integrated, comprehensive solutions to the challenge of developing China’s unconventional reservoirs. Our basin-specific knowledge, industry-leading technologies and expert people have solved unconventional challenges around the world, and we are excited about growing our presence in China.”
David Zeng, Halliburton’s VP for China, added: “Over the next decade there will be great opportunities from the parallel development of conventional and unconventional resources in China. SPT’s strong client relationships combined with Halliburton’s technical expertise positions Xinjiang HDTD to be the leading service provider as we develop westward.”
Adapted from press release by Katie Woodward
Read the article online at: https://www.energyglobal.com/upstream/drilling-and-production/17072014/halliburton_jv_for_fracking_services_in_china_1065/