Saudi Aramco and China’s Sinopec and China National Offshore Oil Corporation (CNOOC) are in talks to take a stake in the US’ Frac Tech International.  

Frac Tech makes hydraulic fracturing technology used in oil and gas exploration and sources have told Reuters that the company owners are looking to sell a 30 per cent share for about $2.2bn.

The oilfield services company specialises in fracturing equipment used in oil and gas shale exploration. Frac Tech is in talks for a number of joint ventures in the Middle East, China and Argentina.