CMA Finds Competition Concern In Noble-Maersk Drilling Deal Following Phase 1 Probe

(RTTNews) - The Competition and Markets Authority in the UK has found that the merger of Noble and Maersk Drilling raises competition concerns in the supply of jack-up rigs for offshore drilling in North West Europe. The CMA noted that if the merging businesses are unable to address its concerns, the deal will be referred for an in-depth phase 2 probe.

"We're concerned that the loss of competition that this deal would bring about could result in higher prices or lower quality services, increasing operating costs for oil and gas producers in the UK North Sea," Colin Raftery, Senior Director of Mergers at the CMA, said.