Medserv Cautiously Positive on Libya

Malta-based oil logistics firm Medserv has said its Malta base has been kept busy as oil companies prepare for upcoming projects in the Mediterranean, particularly offshore Libya.

The recently set-up maintenance unit has now successfully completed its second major maintenance contract in Libya and further work has been obtained for the second half of the current financial year.

The Misurata base is also showing gradual signs of returning to operations. Medserv Misurata tendered for an offshore drilling operation for a French company and a response is awaited.

"Whilst perhaps not too much enthusiasm should be placed on this one event it demonstrates that it is possible once again to mount a full-scale drilling operation from Misurata given the return of the international oil companies and the goodwill of the local population," Medserv said in its interim results.

However, the directors go on to say that they remain cautious on Libyan developments.

(Source: Medserv)

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