SLB has announced that it expects to finalize proceedings with the Norwegian Competition Authority (NCA) in connection with the ChampionX acquisition, concluding the NCA’s Phase 2 review. The resolution is based on previously proposed remedies, and importantly, the NCA has confirmed that no remedy will be required regarding the production chemistry business in Norway.
The proposed resolution includes the following actions:
- Divestiture of ChampionX’s U.S. Synthetic business, a remedy previously approved by U.S. regulators; and
- Commercial remedies for the Quartzdyne business, including long-term supply agreements with customers.
SLB is pleased with this continued progress and remains committed to working closely with the NCA and other regulatory authorities to complete the transaction, which is expected to close in Q2 or early Q3 2025.
Source: SLB
