(Yicai Global) Oct. 22 -- A unit of Chinese automation firm Etrol Technologies will supply state-owned China National Petroleum with services regarding hydraulic fracturing, which involves recovering gas from shale rock.
Geoshine Oilfield Technology Services has won the bid to provide Xibu Drilling Engineering with testing services related to gas fracturing in a project located in the county of Changning in Sichuan province, the Beijing-based smart industry firm said in a statement today. The deal is worth CNY90 million (USD13.2 million).
The project marks a milestone for Geoshine to turn into a comprehensive oil services firm, the parent of the Xinjiang-province based bid-winner said.
The Changning-Weiyuan block, which is developed by CNPC's listed arm PetroChina, is one of the five largest shale gas development areas in the country with its 1.9 trillion cubic meters of geological resources.
Editor: Emmi Laine