Cyprus contract awarded

Source: Times of Malta
Date: 29/06/2018

Medserv has announced that it has signed a second contract with a multinational oil and gas corporation to provide shore base logistics services for exploration activities taking place offshore Cyprus.

To provide these services, the company will be setting up additional logistics facilities in the port of Limassol. It is expected that this contract will be serviced through the group’s internal resources.

Medserv also supports the offshore activity of ENI in the region. The award of this contract is another major step to broaden the group’s oil and gas client portfolio and establishes the company now in eight countries as tendering activity continues.

Further to the announcement, Edison Investment Research also issued a news flash – Medserv Winning Ways – where they refer to their previous description of the Calypso lean gas discovery offshore Cyprus which is believed to be ‘Zohr-like’; Zohr, offshore Egypt, is the largest gas field in the Mediterranean and add that the new find should provide an extended drilling programme, offering greater visibility and improved returns from Cyprus now from multiple customers.