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| Medserv Corporate Brochure |
| 06 Jul 2010 |
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| In order to download the Medserv Corporate Brochure please click here |
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| Medserv Annual Report and Financial Statements available for downloading |
| 30 Apr 2010 |
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| Medserv Annual Report and Financial Statements available for downloading here |
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| Company Announcement & Preliminary Statement of Group Results |
| 09 Apr 2010 |
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Download Company Announcement and Preliminary Statement of Group Results here
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| Medserv Supports the Restoration of Xlendi Tower |
| 09 Apr 2010 |
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Medserv have taken the decision to support Din L-Art Helwa on one of their upcoming projects.
The company has gone from success to success in a relatively short period of time, since listing on the Malta Stock Exchange in 2006. The company has over the years contributed to various charities and initiatives but have now taken the decision to focus their CSR initiatives and identify an organisation that gives back to the Maltese community as a whole.
“This has been on our agenda for a while now. We want to be able to give something back to the community and build on our social responsibility activities. We wanted to be associated with an independent organisation that is working across the country in the field of protection of heritage. Din l-Art Helwas was an obvious choice” commented Anthony Diacono, Company Chairman.
Din l-Art Helwa, National Trust of Malta, is a non-governmental, not-for-profit, voluntary organisation founded in 1965 to safeguard the historic, artistic and natural heritage of Malta. Medserv’s sponsorship will go towards supporting the restoration of Xlendi Tower. The Tower was built in 1650 during the reign of Grand Master Lascaris.
The restoration will be a joint venture between Din l-Art Helwa and the Munxar Local Council and expenses will be shared on a 50/50 basis. The project is projected to start in a few months' time and completion is expected within about three years.
Din l-Art Helwa depend on donations and sponsors in order to carry out their restoration projects. Corporate sponsorships account for a large percentage of their income. Medserv is currently the only sponsor contributing to the Xlendi Tower project.
The Times of Malta - Friday 9th April 2010
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| Significant increase in turnover and profitability |
| 15 Dec 2009 |
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Medserv has reported a significant increase both in turnover and in profitability.
In its unaudited interim financial statement issued on 31 August, the group reported a significant increase in turnover and profitability when compared to last year. This is a result of substantial services provided by the group’s bases, located in Malta and Libya. This consisted of support services to rig and production platforms, specialised vessels, and most considerably, the operational support given to oil companies in their offshore exploration drilling campaign in the Mediterranean. These levels of results were maintained in the third quarter of the financial year and the trend is expected to continue.
The group is still pursuing its assessment of the market for services offshore Egypt through the memorandum of understanding that was entered into with Tradewinds Petrotrade of Texas, USA.
Following a review of forecast oil exploration activity coupled with the earmarked Mediterranean rim-countries committed to boost oil output in the next few years, Medserv continues to review the environment for other potential Mediterranean locations, the company said.
It also announced that, with a view to restructuring the group in a more organised fashion, on 16 November, the company transferred its 60 per cent shareholding in Medserv Misurata to Medserv International (a 100 per cent owned subsidiary of the company) rendering Medserv Misurata a direct subsidiary of Medserv International. |
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| Oil and Gas logistics support in the Mediterranean - Songa sings Malta’s praises |
| 06 Dec 2009 |
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Ricky Chambers is heading the Songa Offshore operation during the Songa Saturn’s thirty day stay at Medserv Malta’s quay. “This is our third trip into Medserv Malta with the Saturn and each time we’ve had a really good experience! In our industry where time is always an issue, it is great to be able to pick up the phone and things get done, not just by the Medserv crew but by all Maltese parties involved. The people here are great to work with, response times are great and all possess a good attitude!”
Songa Offshore is an offshore drilling company operating 5 semi-submersible rigs and one drill ship, the Songa Saturn. The Songa Saturn first visited the Medserv Malta base in September 2008 for a multi-million planned upgrade of the ship. The Saturn was long term stacked in Egypt by its previous owners until Songa bought the ship at the end of 2005, invested in bringing it back up to scratch and put it to work in West Africa in February 2007. As a result of the success of its operations, Songa decided to invest in a further upgrade of the ship to increase its water depth drilling ability to be able to cater for a larger market share, and that was the first time that the Saturn entered our waters.
“Malta’s location in the centre of the Mediterranean is convenient for our operations. Medserv’s location in the Freeport, being a duty free area saves us money and facilitates getting our equipment, people, etc in and out” said Chambers. “We will be bringing in an extra 200 crew whilst we are here in Malta, not to mention the fact that everytime we stop here, suddenly senior management want to visit!”
The Saturn has just completed operation in offshore Libya for a consortium of oil companies. Whilst out on the field they received logistical support from Medserv Misurata and used the base in the Misurata Freezone for storage and warehousing. In January this year the Saturn was in Malta again for maintenance after suffering a beating in adverse weather conditions. She is now here until the 16th December to carry out the remainder of the planned upgrade to the ship’s drilling ability, as well as general maintenance and health and safety inspections. Whilst at Medserv the ship will also be audited by their next client CNOOC, the Chinese National Oil Company, before sailing out to their next operation in offshore West Africa.
“We are actually ahead of schedule with the works” commented Chambers. “We’ve never had a bad experience with Medserv in Malta or Libya. They have always bent over backwards to help out and have always come through no matter the issue put forward!” he said.
Chambers commented that being an island, land logistics is an issue in Malta. However our central location and the ‘can do’ attitude of the Maltese brings them back time and time again.
Photo by Anthony Mamo
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| The Largest DrillShip visits Medserv Malta |
| 20 Oct 2009 |
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The Stena Forth, the largest dual mast, ultra deepwater drillship in the world, currently leased by Hess Corporation arrived in Malta on Saturday 17th October. The Stena DrillMAX fleet are dynamically positioned drillships designed and certified for year-round, worldwide operation in ultra deep waters. The drillship stopped over at the Medserv Malta base before setting sail for Libya on Tuesday where it is set to begin drilling offshore Libya in a concession being operated by Hess. The Medserv base in Malta Freeport worked around the clock over the weekend in order to ensure that the ship was supplied with the necessary materials and equipment and assisted in the clearance by the Libyan immigration and customs officials before moving out into Libyan waters to begin work on this new operation.
Photo by Anthony Mamo |
| Medserv’s client - Hess Corporation is a leading global independent energy company, engaged in the exploration and production of crude oil and natural gas, as well as in refining and in marketing refined petroleum products |
and natural gas. Medserv provides logistic base facilities and support for current Hess operations in the Mediterranean from both their Malta and Misurata bases.
Medserv are the client representative for Hess on this particular project, whilst Gollcher is the drillship agent. The main servicing operation for this project will take place by Medserv Misurata with auxiliary support services provided by the Medserv Malta base.
For the past 32 years Medserv has served as the most significant offshore base for the central Mediterranean area, and is a member of the International Association of Drilling Contractors. Medserv operates logistical support bases in the Malta Freeport and Misurata Free Zone. The holding company, Medserv plc was listed on the Malta Stock Exchange in October 2006. |
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Photo by Anthony Mamo |
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Photo by Anthony Mamo | |
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