The US Department of Justice has approved the proposed merger between industry heavyweights Schlumberger and Cameron.
The takeover must now clear a final hurdle – approval from Cameron stockholders.
A special meeting will be held on December 17 to determine the outcome.
If given the green light, the pair expects to complete the merger in the first quarter of next year.
Until final approval is granted from stockholders, Schlumberger and Cameron will continue to operate as separate companies.
Schlumberger is a supplier of technology, integrated project management and information solutions. It in employs 105,000 people in 85 countries. It reported a turnover of $48.58billion last year.
Cameron supplies flow equipment products, systems and services to worldwide oil and gas industries.