Related Articles
Forward article link
Share PDF with colleagues

China looks abroad to FTSI for shale technology

Texas based shale specialists FTS International have formed a 15 year joint venture with Sinopec

China's shale patch has so far been a richer opportunity for foreign oilfield service companies than for the supermajors that initially moved to snap up projects in the country. The latest move into China from a foreign oilfield service company came this week when FTS International (FTSI), a Texas-based shale specialist, formed a 15-year joint venture with state-owned Sinopec. SinoFTS, as the venture will be known, will be 55% owned by Sinopec, while FTSI will hold the remaining 45%. No financial details of the deal were released. "The joint venture collaboration is the culmination of a multi-year effort by both companies to bring FTSI's hydraulic stimulation capabilities and expertise to C

Also in this section
Latest licensing rounds
22 June 2017
The industry's most comprehensive list of current and recent rounds for onshore and offshore licenses
Heavyweights lift Mexico's second oil round
21 June 2017
Drilling boom offers bright spot in otherwise bleak global oil exploration outlook
Senegal—steady as she goes
20 June 2017
A ministerial departure and a supermajor arrival reflect the rising stakes in West Africa's latest upstream player, but the president is playing it cool