Halliburton enters China

FRACCING pioneer Halliburton has struck its first fraccing-related joint venture in China.

Blair Price

The JV with an affiliate of SPT Energy Group will target hydraulic fracturing and production enhancement services in China’s Xinjiang province, Halliburton said.

Halliburton chairman, president and CEO Dave Lesar attended the Beijing ceremony for the new venture.

“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,” he said.

“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.”

SPT Energy Group has provided oilfield technical services to Xinjiang’s Tarim oilfield for 20 years and has collaborated with Halliburton over the past seven years.

“By 2025 the total barrels of oil equivalent in the Tarim oilfield is expected to be 50 million tonnes, while total BOE throughout Xinjiang province is expected to reach 100 million tonnes and account for up to one-third of China’s BOE,” Halliburton said.