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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

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