Houston-based Schlumberger, the world’s largest provider of oilfield services, has agreed to set up a joint venture with Anton Oilfield Services to tap a boom in unconventional energy. Schlumberger, which bought a 20.1% stake in its Beijing-based partner in July, would have a 60% stake in the venture and Anton the rest, Anton said in a statement. The planned total initial investment was USD12 million, Anton Vice President Peter Pi said. Anton is one of the largest oilfield services providers not owned by the state. The venture would combine Schlumberger’s global experience and advanced technology with Anton’s local knowledge and access to domestic talent and low-cost materials, Anton Chairman Luo Lin said. “A major focus of the joint venture will be on servicing the development of unconventional oil and gas resources,” he said. A major focus of global unconventional energy development is shale gas.  China is estimated by the U.S. Energy Information Administration to have the world’s largest shale gas resources, but owing to a lack of investment and technology, only a few dozen wells have been drilled, compared with thousands in the U.S. Beijing has set a target for shale gas output of 60 billion to 100 billion cubic meters (BCM) a year by 2020, compared with a negligible amount now. Reaching this target will require an estimated investment of USD100 billion, the Ministry of Land and Resources said.