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MedservRegis Plc Environmental & Social Information 2016
2071_rns_2016-05-26_7b188f6e-d7a0-442f-9544-9ac82ba1925d.pdf
Environmental & Social Information
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COMPANY ANNOUNCEMENT
MEDSERV P.L.C. (THE "COMPANY")
Award of Exploration Activity Offshore Portugal
| Date of Announcement | 26 May 2016 |
|---|---|
| Reference | 138/2016 |
| Listing Rule | LR5.16.1 |
The Company is pleased to announce that it has been awarded a contract by ENI to provide logistics base and associated services for its exploration activities taking place offshore Portugal, Alentejo Basin. The contract duration is six months with possible extensions. In order to provide these services, the Company has incorporated a wholly owned subsidiary in Portugal with the name 'MDS Energy Portugal Unipessoal LDA'. It is expected that this contract shall be serviced through the Group's internal resources.
The award of this contract will continue to broaden the Group's geographical reach. In addition to the said operation offshore Portugal, the Medserv Group also supports the exploration activity in the Levatian basin offshore Cyprus, the exploration and production wells in North Africa (primarily Libya) through its Malta base. Furthermore, as a result of its recent acquisition, the Group is servicing the Middle East market through its three bases located in UAE, Oman and Iraq. Through this acquisition the Group has expanded its portfolio of services to include OCTG services.
Laragh Cassar Company Secretary