Schlumberger and Cameron International have been given approval by the Chinese Ministry of Commerce for their proposed merger.
The companies said the latest move marks the last major closing condition to the proposed merger.
In a statement, the companies said they expect their transaction to now close on April 1 this year.
In August last year it was revealed Schlumberger would take over Cameron in a $14.8billion deal.
The company’s chief executive said the move would create “new and broader” opportunities for Schlumberger in the current low oil market.
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