Schlumberger (SLB) and Canada's Competition Bureau have reached a consent agreement to address antitrust concerns over the company's proposed acquisition of ChampionX (CHX), the Bureau said Wednesday.

A review by the Bureau concluded that the acquisition would likely reduce competition in the supply of critical oilfield services and equipment in Canada, the agency said.

To resolve antitrust concerns, Schlumberger has agreed to sell ChampionX subsidiary US Synthetic and license quartz transducer technology from ChampionX's Quartzdyne unit, the Bureau said.

Schlumberger said earlier Wednesday that it completed the acquisition of ChampionX.

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