A new shale gas development deal has been signed between an American firm and a Chinese petroleum firm.<\/p>\n
Texas-based Weir Group PLC and China's Shengli Oilfield Highland Petroleum Equipment Company Ltd. announced the formation of a joint venture to provide high-pressure well service pumps and related flow control equipment to the developing shale gas industry in China.<\/p>\n
The JV is expected to commence operations in the first half of 2011, subject to regulatory approvals. It will be owned 60% by Weir and 40% by Highland and will be based in Dongying, Shandong.<\/p>\n
Weir anticipates investing USD6.2m in the JV during its first two years of operation.<\/p>\n","protected":false},"excerpt":{"rendered":"
A new shale gas development deal has been signed between an American firm and a Chinese petroleum firm.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[14],"tags":[6006,3147,2257,916,1982,2442,6586,6585,114,6587],"class_list":["post-8158","post","type-post","status-publish","format-standard","hentry","category-energy-cleantech","tag-dongying","tag-energy","tag-gas","tag-joint-venture","tag-jv","tag-natural-gas","tag-shale","tag-shale-gas","tag-shandong","tag-weir-group"],"acf":[],"yoast_head":"\n