FTSI signs Sinopec deal

摘要

US player FTS International (FTSI) has signed a 15-year joint venture with China’s state-owned Sinopec to offer FTSI’ experience with hydraulic fracturing to China’s huge shale formations via a new joint venture. The joint venture will be called SinoFTS Petroleum Services and will be owned 55 by Sinopec and 45 by FTSI. The financial terms of the deal were not revealed.