The Norwegian Competition Authority (NCA) has announced it will conduct further analysis of Schlumberger’s proposed acquisition of ChampionX due to concerns over weakened competition in key markets.
Both companies supply production chemicals to oil and gas firms on the Norwegian continental shelf, and the merger would significantly reduce supplier options in tenders. Additionally, ChampionX provides key input components for Schlumberger and its competitors in permanent well monitoring and directional drilling, raising concerns about potential anti-competitive effects.
Schlumberger and ChampionX proposed remedies in the initial review phase, but the NCA found them insufficient. The investigation will continue, with a final decision deadline set for May 5, 2025.
Source: https://konkurransetilsynet.no/schlumbergers-oppkjop-av-championx-ma-vurderes-naermere/
