The Competition Commission of Pakistan (CCP) has approved the acquisition of 100% shareholding in KCA Deutag International Limited by HP Global Holdings Limited (H&P). The transaction involves the purchase of KCA Deutag from Sculptor Special Master Fund Limited, including its 18.5% stake in KCA Deutag GmbH, registered in Pakistan.
KCA Deutag is a key player in the global oil field services sector, operating 138 onshore rigs and providing drilling and engineering services worldwide. HP Global Holdings Limited, a wholly owned subsidiary of Helmerich & Payne, Inc., specialises in contract drilling services for the international oil and gas industry.
Following a detailed review under the Competition Act, the CCP determined that the acquisition would not create a dominant market position in Pakistan’s oil field services sector. Since HP Global Holdings currently has no operations in Pakistan, the transaction will not impact market share in the country.
The CCP granted approval under Section 31(1)(d)(i) of the Competition Act, 2010, confirming that the acquisition would not negatively affect competition in the local market.
