Norwegian Competition Authority issues NOK 30 million fine to SLB

The Norwegian Competition Authority (NCA) has today issued a NOK 30 million administrative fine to SLB for providing incorrect information in the notification of the acquisition of ChampionX.

– 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 SLB’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 equipment SLB 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 information provided in the notification, 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 substantial fine, Director General Mads Magnussen says.

SLB may appeal the infringement penalty decision to the Competition Appeals Tribunal within six months.