Antitrust, Schlumberger agree on control over EDC under sanctions

MOSCOW, Feb 9 (PRIME) -- The Federal Antimonopoly Service and Schlumberger have generally agreed on passing management to the U.S. company of Eurasia Drilling Company (EDC) in case of new sanctions, the case may be sent for consideration of the government commission on foreign investment within a month, the watchdog’s Deputy Director Andrei Tsyganov told reporters on Friday.

On Thursday, the authority’s head Igor Artemyev said that Schlumberger had submitted a new request to acquire a stake in EDC.

EDC said in July 2017 that its shareholders approved selling a 51% stake in the company to U.S. oilfield servicing giant Schlumberger. In November, the antimonopoly service’s Deputy Director Andrei Tsyganov told PRIME that the service and Schlumberger were working on a mechanism to protect the company’s investment into EDC and of economic interests of Russia in case of new Western sanctions.

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