The Norwegian competition authority has levied a fine of 30 million NOK against SLB for submitting misleading information in its notification about the acquisition of ChampionX. This fine underscores the importance of providing accurate and complete information to ensure effective enforcement of competition law.

According to the competition law, a company can be fined up to 1% of its revenue for providing incorrect or incomplete information. The authority received the notification on January 21, 2025, regarding SLB's acquisition of 100% of ChampionX's shares, which included details about the companies' rankings in previous tenders for production chemicals and the equipment used by SLB in its drilling services on the Norwegian continental shelf.

During the review, the competition authority discovered that some of the information provided did not match the actual situation, which was crucial for their assessment of the acquisition. The authority emphasized the need for reliable information due to tight deadlines in such cases, as incorrect data could lead to decisions based on flawed premises.

To ensure a sufficient deterrent effect and contribute to effective merger control, the authority has imposed a significant fine. SLB has the right to appeal the decision to the Competition Appeals Board within six months of receiving the ruling.