European Commission - Daily News
Brussels, 5 February 2016
The European Commission has approved under the EU Merger Regulation the acquisition of Cameron by Schlumberger, both of the US.
Cameron provides drilling and production systems, valves and measurement, and topside process systems used on oil, gas and process platforms above sea level. Schlumberger provides oilfield products and services supplying technology, information solutions and integrated project management for oil and gas customers. Cameron's stake in OneSubsea, currently a joint venture between Cameron and Schlumberger, is also part of the transaction. OneSubsea was formed in 2013 and is active in the development and supply of products and services for subsea oil and gas production. Cameron's and Schlumberger's activities present limited overlaps in the markets of produced water treatment (de-oiling and sand management), as well as on the market of drilling chokes.
The Commission concluded that the proposed acquisition would raise no competition concerns, given the very limited overlaps between the companies' activities and the modest increment in market shares brought about by the transaction. The transaction was examined under the normal merger review procedure. More information is available on the Commission's competition website, in the public case register under the case number M.7799.
(For more information: Ricardo Cardoso – Tel. +32 229 80100; Carolina Luna Gordo – Tel.: +32 229 68386)
Source: Europa.eu (Copyright European Commission)