Norwegian Competition Authority issues NOK 30 million fine to Schlumberger

The Norwegian Competition Authority (NCA) has today notified Schlumberger of its intention to impose an administrative fine of NOK 30 million for providing incorrect information in the notification of an acquisition.

– The obligation to provide accurate and complete information to the NCA is fundamental for the effective enforcement of the Competition Act, and for ensuring sound and efficient merger control, says Director General Mads Magnussen.

Under the Norwegian Competition Act, an undertaking may be subject to an administrative fine of up to 1 per cent of its turnover if it provides incorrect or incomplete information to the NCA.

The NCA received a notification on 21 January 2025 concerning Schlumberger’s acquisition of 100 per cent of the shares in ChampionX. The notification included, among other things, information on the parties’ ranking in previous tenders for production chemicals, as well as information on the products Schlumberger uses in its drilling services on the Norwegian continental shelf.

During its review, the NCA became aware that parts of the information submitted in the notification did not correspond with the actual situation. This information was relevant to the Authority’s assessment of the transaction.

The NCA operates under strict deadlines in merger cases. It is therefore essential that we can rely on the accuracy and completeness of the information provided, says Marita Mæland Skjæveland, Department Director at the NCA.

The potential harm is significant, as the Authority may risk making decisions based on incorrect premises. We take such instances very seriously. To ensure a sufficient deterrent effect and contribute to effective merger enforcement, we have issued a warning of a substantial fine, Magnussen says.

The NCA emphasizes that the assessments presented in the notice are preliminary, and that no final decision has been made.

This is a notice which has now been presented to Schlumberger. They can submit their comments before any final decision is taken, Mæland Skjæveland says.

Schlumberger has until 19 March to submit its comments on the notice.