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2014-05-22 18:15:00

SINOPEC & WEATHERFORD: AIMS TO MARRY

SINOPEC & WEATHERFORD: AIMS TO MARRY

China's Sinopec Group said on Wednesday it has agreed with U.S.-listed Weatherford International to form a joint venture oilfield service company.

The joint entity aims to marry Weatherford's technological and management know-how with the Chinese oil major's ability to expand its upstream business, including in the country's potentially vast shale gas fields, industry officials have said.

reuters.com

Tags: SINOPEC, WEATHERFORD, OIL