SLB Schlumberger Ltd

By Alexander Kolyandr

MOSCOW--Russia's largest onshore drilling company Eurasia Drilling Co. said on Friday that its sale of a stake to the world's biggest oil-services company by market value Schlumberger Ltd. is delayed, pending approval from Russia's Federal Anti-Monopoly Service.

As the result, EDC said the deal "will not occur on the expected dates previously announced by the company."

The company said it continues to cooperate with Russian's competition watchdog as it studies the transaction.

Schlumberger said Jan. 20 it planned to buy a 46% stake in EDC for about $1.7 billion, with an option to fully acquire the company.

EDC provided no further details, and the FAS wasn't available for an immediate comment.

Write to Alexander Kolyandr at alexander.kolyandr@wsj.com

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