Medserv Cyprus awarded logistics contract by Total - MEDSERV

01/07/2019

Earlier today Medserv announced that Medserv (Cyprus) Limited has been awarded a contract by Total E&P Cyprus to provide Shore Base Logistics services for drilling activities taking place offshore Cyprus.

The contract duration is for a firm period of one year with options to extend. Medserv (Cyprus) Limited will provide these services from its facilities in the port of Limassol. The award of this contract makes Total the third major International Oil Company to be working with Medserv in Cyprus, another major step to broaden the Group’s oil and gas client portfolio within the Eastern Mediterranean region.

Eni and Total are lining up a multi-well drilling programme off Cyprus. The drilling is expected to begin by the end of this year or early 2020. The two European majors plan to drill five wells, with one probe in each of five blocks.

US Drlling with a British Drill in Cyprus - PHILELEFTHEROS

2 July 2018

TEKMOR: Cypriot newspaper Phileleftheros reports that drilling in Cyprus' Block 10 by ExxonMobil will start mid-November & finish in March 2019 using a super modern UK-flagged drilling platform, owned by a London-HQ British company with a presence in Cyprus as well. In the mean time Maltese MedServ has reported an agreement for the provision of onshore logistics with a multinational that will be conducting exploration activities in Cyprus' EEZ.

Cyprus contract awarded - THE TIMES OF MALTA

Friday, June 29, 2018, 06:38

Medserv has announced that it has signed a second contract with a multinational oil and gas corporation (TEKMOR note: ExxonMobil most likely) 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.

Medserv's two major investors look to sell their shares - TIMES OF MALTA

Tuesday, May 1, 2018, 09:13

More than 65 per cent of the oil and gas service company available for purchase

Medserv's two major shareholders are seeking to offload their shares in the oil and gas service provider, they announced late on Monday.

Malampaya Investments Limited and Anthony S. Diacono have informed the company's board of directors that they intend to source a strategic purchaser to acquire their respective 34.33 per cent and 31.17 per cent shareholding.

Sourcing a strategic purchaser should "accelerate and further supplement the Group’s growth and internationalisation strategy," the two shareholders said in a company announcement. The company's board of directors share that view, they noted.

The process to find a purchaser is still at a very early stage, and the company noted that there is no certainty that one will be found or an eventual deal concluded.

Medserv’s interim statement highlights delays in Q4, strong 2018 - TIMES OF MALTA

Friday, November 24, 2017, 07:49

Medserv’s update issued to the market highlights that the group’s business pipeline remains robust with a strong outlook for 2018, while earnings for the second half of the reporting year are lower than forecast due to delays in projects both in integrated logistics support services (ILSS) and oil country tubular goods (OCTG).

Further to the company announcement, Edison Investment Research also issued an update where they state that although the project delays will see H217 miss expectations, contracted projects underpin their FY18 estimates and for this reason this remains unchanged. The DCF-based fair value provided by Edison currently stands at €1.64 per share. The full Edison report may be viewed on the company’s website.

The group reported that the second ILSS base recently opened in Cyprus will become fully active in the coming month. Four to five wells are expected to be drilled in the waters offshore Cyprus in the next 12 months. Medserv Cyprus will support the upcoming exploratory drilling campaign planned by ENI Cyprus from both its shore bases in Limassol and Larnaca.

The group’s Cypriot subsidiary has also recently participated in a tender for the provision of ILSS to a second International Oil Company (IOC) which is planning to drill next year.

Medserv to service Eni Cyprus for two more years - TIMES OF MALTA

Limassol Port

Friday, July 14, 2017, 09:44

Contract extension announced
Malta-based oil and gas logistics firm Medserv and Italian oil company Eni have activated a contract extension which will ensure the Maltese company continues to provide operational base support services for Eni Cyprus Ltd for another two years.

The deal, inked with Medserv (Cyprus) Ltd, includes the provision of dedicated facilities and services in the port of Limassol whilst still maintaining the base facilities in Larnaca port.

The two companies had first signed a three-year deal in June 2014, with the contract allowing for a two-year extension. Medserv (Cyprus) Ltd was set up in 2011 to provide logistics and support facilities for the oil and gas sector in the eastern Mediterranean basin.

Challenging period for Medserv - TIMES OF MALTA

Thursday, April 20, 2017, 00:01

Edward Rizzo

On April 5, Medserv plc published its 2016 financial statements as well as its updated Financial Analysis Summary which included the 2017 financial forecasts. Moreover, the UK-based research house, Edison Investment Research, published an updated view on Medserv followingthese announcements.

The 2016 results are reflective of the volatile industry in which Medserv operates as various industry-wide factors adversely impacted the group’s performance. Moreover, for the first time, the 2016 financial statements also included the contribution from the Mets Group following the acquisition of the Middle Eastern Group of Companies in February 2016.

ENI also likely to operate out of Limassol - CYPRUS MAIL

March 30, 2017

Elias Hazou

AFTER energy giants Total, it looks like ENI will likewise operate – albeit grudgingly – out of the port of Limassol for their scheduled drilling operations, slated to get underway later this year.

“Larnaca port is definitely out,” Alecos Michaelides, permanent secretary of the transport ministry and former president of the Cyprus Ports Authority (CPA) board, told the Cyprus Mail.

Michaelides confirmed news reports that DP World, the concession holders operating the multi-purpose terminal of Limassol port for the next 25 years, plan to have an onshore logistics base supporting hydrocarbons activities up and running by this summer.

ENI are contractually bound to start drilling two more wells before February 2018, when their offshore exploration licence expires.

Medserv awarded contract for logistics support to Eni North Africa - THE MALTA INDEPENDENT

Wednesday, 23 November 2016, 11:45

Medserv announced today that the company have been re-awarded a contract by Eni North Africa (EniNa) to provide logistics base and associated services for its exploration activities taking place offshore and onshore Libya. The contract duration is for a period of one year with the possibility of extending for another year. This contract comes into effect on the 1st of January 2017. These services are to be carried out at the company’s Malta base situated in the Malta Freeport.

This contract, in addition to the two-year major logistic and base support contract that came to market in 2016 for offshore Libya activity that was announced earlier this year consolidates the business pipe line for Medserv Operations and work levels for the Malta operation are expected to be high in the next three years, the company said in a statement.

Preparing to drill - IN CYPRUS / CYPRUS WEEKLY

SAIPEM's Castoro Sei, at Limassol port, off to Zohr Field at EOY

October 30, 2016
By Charles Ellinas

Total and EDT signed a contract on October 6, in the presence of Transport Minister Marios Demetriades and Energy Minister Giorgos Lakkotrypis, signifying the restart of drilling in Block 11 by April 2017.

It was a happy occasion, with Demetriades confirming to the two companies that the government will do its utmost to support their work “because we believe that the hydrocarbons industry has a future in Cyprus”.

The day after signature of the contract, the whole process started unravelling. It was revealed that the recently-awarded contract to DP World and GAP Vassilopoulos (Consortium) for marine and port services at Limassol port, as part of the privatisation process, was posing problems.

Total’s plans in limbo after logistics contract blunder, ENI, Noble hint at logistics move abroad - CYPRUS MAIL

October 24th, 2016

ENERGY giant Total’s plans to explore for hydrocarbons offshore Cyprus are stuck in limbo, while ENI and Noble Energy are intimating they are considering moving their onshore logistics base to Egypt and Israel, respectively, unless they are able to continue operating out of the port of Larnaca.

In early October, Total and EDT offshore, an oil and gas services company, signed a contract where the latter would provide the former onshore logistics services out of the port of Limassol supporting Total’s drilling programme.

Amid much fanfare at the signing ceremony – attended by energy minister Giorgos Lakkotrypis and transport minister Marios Demetriades – Total announced they were poised to drill their first exploratory well in Block 11 of Cyprus’ Exclusive Economic Zone, in April 2017.

Medserv renews major contract - TIMES OF MALTA

Sunday, August 7, 2016, 00:01

Medserv has successfully concluded the renewal of one of its major contracts with an international oil company operating offshore North Africa for another two years.

Medserv will provide fully integrated logistics and shore base services from its base in Malta. The project relates to the continuation of the Bahr Essalm offshore gas field development in the central Mediterranean. This major natural gas field project includes the installation of subsea structures, engineering, as well as extensive diving and implementation campaigns. A range of vessels will be involved, including pipe laying and diving support vessels.

Contracts for Limassol port oil services to be signed in July - CYPRUS MAIL

APRIL 9TH, 2016 EVIE ANDREOU

The contracts with the company providing services to French energy giant Total, scheduled to drill for gas later this year, will be signed in July, Transport Minister Marios Demetriades said on Saturday.

According to Demetriades, at the moment there is a tender competition for companies to provide services to Total, which has agreed to relocate from Larnaca to Limassol port.

The government has been trying to convince the hydrocarbon companies, interested in drilling for natural gas off Cyprus, ENI, Noble and Total, to relocate to Limassol, after the Larnaca municipal council decided in February not to extend the stay of MedServ, the company providing support services to ENI and Total.

Medserv results exceed targets by 38% - TIMES OF MALTA

Thursday, March 24, 2016, 00:01

Medserv has reported a profit before tax of €6 million representing an increase of 38 per cent over forecast. Reported group revenue for the year was €42.2 million.

The group said that its performance in 2015 was attributed to a number of factors, including the strong business flow conducted out of Malta in support of the ongoing operations offshore Libya, and to the performance of Medserv (Cyprus) Ltd which continues to service ENI out of the company’s shore base in Larnaca. Finally, engineering and maintenance services continued to grow in 2015.

As the global oil and gas sector continues to suffer from the effect of oversupply of oil to the market, the company has refocused and moved ahead with its investment plans to ensure it can continue to be of service to its growing list of blue chip customers in the Mediterranean and beyond.

Hopes of Larnaca port vote dashed as irate councillors walk out of meeting - CYPRUS MAIL

MARCH 8TH, 2016 Andria Kades

Larnaca mayor Andreas Louroutziatis extended an invitation to ENI, Noble and Total to operate out of the city’s port on Monday night, flying in the face of AKEL, DIKO, EDEK and Citizens Alliance councillors who stormed out of the session after the council failed to reach a decision to vote.

Louroutziatis and DISY councillors pleaded with them not to, asking them to stay and discuss the company requests.

The marathon meeting, which wrapped up shortly before midnight was punctuated by fighting and shouting matches, between councillors themselves, but also the loud yells of logistics company MedServ employees. According to state radio, workers joined forces with the Nicosia Chamber of Commerce in a bid to force decision makers to approve an extension which would allowing the logistics company offering support services to energy giants to stay in Larnaca.

A ‘boring’ proposition - THE TIMES OF MALTA

The yard in Sharjah can handle storage, inspection,
maintenance and repair of pipes.

Thursday, February 25, 2016, 06:01 by Vanessa Macdonald, Sharjah, UAE

You might think that – if you excuse the pun – a pipe storage facility would be boring.

In fact, it might cross your mind that it is a rather strange investment for Medserv to make. And not just any investment but a $45 million one, doubling its size overnight.

It turns out, however, to be a very smart move indeed. Middle East Tubular Services was founded in 2006 and like the entrepreneurial spirit of Medserv’s executives, its founder Paul Hayward, with Peter Howes, saw opportunity and went for it.

METS has pipe storage yards in Sharjah in the United Arab Emirates, since 2010 at Basra in Iraq and since 2012 in the Sohar Free Zone in Oman, just 4.5 kilometres from a port on the Indian Ocean, employing around 160 people overall.

‘Damage already done’ to Cyprus gas industry - CYPRUS MAIL

FEBRUARY 14TH, 2016 EVIE ANDREOU

THE government’s scramble to offer Limassol as an alternative support hub to the energy giants turfed out of Larnaca, is too little too late as the damage to the island’s image has already been done, business leaders have told the Sunday Mail.

Larnaca municipality’s decision to reject a request to extend the operation of MedServ, a company providing oil and gas exploration support services out of the port, has angered those directly involved and caused widespread disappointment in the industry, even more so as the move was ‘respected’ by the government.

It has also led to the delay in French company Total’s exploratory drilling by three to four months, Energy Minister Giorgos Lakkotrypis said on Saturday.

Medserv seeks bond, equity funding expansion strategy | The Times of Malta

Thursday, December 31, 2015, 00:01 by Edward Rizzo

Medserv’s need for further funding was first disclosed to the market on October 8 when the company announced that it entered into a conditional share purchase agreement for the acquisition of the three METS companies for a total of $46 million. In this detailed announcement, providing information on METS and the terms of the proposed transaction, Medserv had clearly indicated that it aims to finance the acquisition through a mix of debt and equity financing.

The announcement did not provide details on the debt already within METS and how the $46 million will be split between an equity injection by existing or new shareholders and total debt funding. In the circular to shareholders, sent in anticipation of the extraordinary general meeting that took place on December 3, it was mentioned that the minimum amount of the additional equity would be of €15 million.

Finally on December 21, Medserv announced the terms of the rights issue and the bond issue after obtaining approval from the MFSA.

I will not go into the details of the bond and rights issues, the pricing of these issues or the merits behind the decision taken by the executive directors. Instead, my article is intended to shed light on Medserv’s ambitious growth strategy.

Shortly after the MFSA approval of the Dual Issue Prospectus, Medserv held an information meeting for financial intermediaries and chairman Anthony Diacono provided a detailed overview of the intended plans going forward.

Diacono started off the presentation by explaining the current services portfolio of Medserv. The core business to date has always been the support services provided to international oil and gas companies via the logistics bases. Currently, Medserv operates from its base in Malta supporting two International Oil Companies (IOCs) and other subcontractors; it provides support to ENI Cyprus via a three-year agreement (extendable for a further two years) from its base in Larnaca, Cyprus; and in 2015 it provided port facilities in Greece, mainly to assist a client in the safe anchorage of vessels.

Another service which was always provided to international oil and gas companies was the manufacture of drilling fluids which are required during exploration and/or production programmes. This ‘mud-mixing’ facility is available at the bases in Malta and Cyprus.

Recently, Medserv branched out into the provision of maintenance and engineering services. Over the past two years Medserv was awarded a number of contracts to provide maintenance services to platforms being used offshore Libya. Another contract awarded to Medserv some months ago via the Tripoli office will extend into 2016.

In 2014, Medserv also invested a sizeable sum into Malta’s largest solar farm as it installed 8,000 PV panels across its Malta base generating annual revenue of circa €520,000.

The long-term plan of Medserv is to increase its geographic presence, strengthen its portfolio of services and expand its customer base further with additional international oil and gas companies and subcontractors.

The strategy therefore continues to focus on strengthening the core business, i.e. the support services provided to international oil and gas companies via the logistics bases. Apart from the present facilties in Malta, Cyprus and Greece, Medserv is seeking expansion into other regions. During the meeting, the chairman confirmed that Medserv is currently seeking a strategic partner to set up a base in Egypt after it was approached by two major IOC’s ahead of some important tenders being issued. This coincides with the announcement made by ENI a few months ago that it discovered the “largest ever” natural gas field in the Mediterranean Sea offshore Egypt.

The ‘supergiant’ well (the Zohr field) is the largest gas discovery ever found in Egypt, as well as in the Mediterranean Sea, and could become one of the world’s largest natural gas finds. It was also reported in the international press that the Egyptian General Petroleum Corporation agreed with ENI to start producing from the Zohr gas field by 2017.

Earlier this year, Medserv had also mentioned the possibility of works in Portugal. The chairman stated that a tender was submitted and if it is awarded to Medserv, a temporary ‘pop-up’ base will be set up to assist the IOC in the exploration of one well. Although this may not be a sizeable contract at the outset, it could become more beneficial should the exploration prove successful.

A possible expansion of another support base, this time in the Caribbean, would be more sigfnicant in terms of geographic expansion. The chairman claimed in the recent meeting that a tender for the setting up of a logictics support base in Trinidad & Tobago had been submitted to support the large operation of BP involving several offshore platforms and drilling activities. Medserv is reportedly now also on the global list of approved logistics contractors of BP. This will also help to reduce Medserv’s current dependency on ENI given the significant work by this IOC in the Mediterranean. The prospectus also indicates that earlier this year Medserv made a proposal to the National Energy Corporation of Trinidad to provide and operate a mud plant and bulk silos/brine plant within one of their ports.

Meanwhile, the imminent acquisition of METS fits in perfectly with Medserv’s long-term plans since it helps in widening its geographic presence and achieves diversification in its service portfolio, given the focus on precision engineering. It also extends the client base given the various blue-chip clients utilising the services of METS.

Medserv also aims to explore a number of cross-selling opportunities via the METS acquisition. One of the main attractions of the acquisition is the ownership of the VAM licence in two of its locations allowing METS to provide pipe threading services. This is reportedly a very highly specialised offering and the licence is difficult to obtain given stringent criteria including expertise and volumes of pipes to be serviced. Following the acquisition of METS, Medserv are confident that they will be able to obtain such a licence also for the Malta base within 18 months. This will enable Medserv to introduce this service across the Mediterranean region thus opening a new line of business in a region where exploration and production activity in the oil and gas sector is expected to boom in the next couple of years.

Another cross-selling opportunity is the manufacture of drilling fluids, which is a core competence of Medserv and which is currently not provided by METS.

Additionally, via the METS acquisition, Medserv also intends to explore the possibility of providing services to the major IOCs seeking to work on new projects in Iran. Iran is the world’s fourth-largest holder of crude oil reserves and some very significant exploration/ production contracts (both onshore and offshore) will be available to the IOCs once economic sanctions are lifted in early 2016.

During the EGM held on December 3, which was convened to approve among other resolutions the METS acquisition, a number of shareholders present questioned the financial benefits expected from this imminent acquisition in the Middle East, especially given the business downturn experienced over the past two years. Unfortunately, no additional information on the current trading performance was provided in the Dual Issue Prospectus published last week.

In the coming months Medserv’s shareholders will be eagerly awaiting the publication of the company’s 2015 financial results to get to know the extent of the superior financial performance achieved compared to earlier forecasts for the year and more importantly the publication of the Financial Analysis Summary due by June 30, 2016 providing the financial projections of the Medserv Group for 2016. This should also include the initial contribution from METS. Moreover, shareholders will be expecting news on developments related to the company’s ambitious growth strategy as well as further updates with respect to possible strategic investors following the EGM held on October 12 which authorised the directors of Medserv to divulge confidential information to such investors.

Rizzo, Farrugia & Co. (Stockbrokers) Ltd (RFC) is a member of the Malta Stock Exchange and licensed by the Malta Financial Services Authority. This report has been prepared in accordance with legal requirements. It has not been disclosed to the company/s herein mentioned before its publication. It is based on public information only and is published solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. The author and other relevant persons may not trade in the securities to which this report relates (other than executing unsolicited client orders) until such time as the recipients of this report have had a reasonable opportunity to act thereon. RFC, its directors, the author of this report, other employees or RFC on behalf of its clients, have holdings in the securities herein mentioned and may at any time make purchases and/or sales in them as principal or agent, and may also have other business relationships with the company/s. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Neither RFC, nor any of its directors or employees accept any liability for any loss or damage arising out of the use of all or any part thereof and no representation or warranty is provided in respect of the reliability of the information contained in this report.

© 2015 Rizzo, Farrugia & Co. (Stockbrokers)Ltd. All rights reserved.
Edward Rizzo is a director at Rizzo, Farrugia & Co. (Stockbrokers) Ltd.

SOURCE

Τέλος και επίσημα η Noble από Λεμεσό | ΦΙΛΕΛΕΥΘΕΡΟΣ

Παρασκευή, 21 Μαρτίου 2014 2:26 μμ
Ζητά εγκρίσεις για εγκατάστασή της στη Λάρνακα



Λευκωσία: Τελεσίδικες αποφάσεις φαίνεται να δημιουργούνται για τη Λάρνακα και τη μεταφορά εκεί των εγκαταστάσεων εξυπηρέτησης της βιομηχανίας έρευνας και εκμετάλλευσης φυσικού αερίου.

Η Noble έδωσε χθες στο λιμάνι Λεμεσού και τους εκεί συνεργάτες της επιστολές λήξης συνεργασίας και πλήρους αποχώρησης από τη Λεμεσό. Ταυτόχρονα σε συναντήσεις εκπροσώπων της Noble στο υπουργείο Συγκοινωνιών ζητά εγκρίσεις για εγκατάστασή της μέσω τρίτων στη Λάρνακα και υποδεικνύει ότι σε αντίθετη περίπτωση θα μεταφέρει εγκαταστάσεις στο Ισραήλ, αν και κάτι τέτοιο δεν φαίνεται να είναι δυνατό, αφού η αμερικανική εταιρεία είναι δεσμευμένη να διεξάγει από την Κύπρο δραστηριότητες που αφορούν γεωτρήσεις στην Κυπριακή ΑΟΖ.

Την ίδια ώρα η Haliburton φιλοξενεί αυτές τις μέρες σε εγκαταστάσεις της στην Ιταλία δεκαπενταμελή ομάδα υπό τον δήμαρχο Λάρνακας και τους εκπροσώπους των κομμάτων για να πειστούν ότι τέτοιες εγκαταστάσεις δεν θα είναι καταστροφή για την πόλη. Αν και ο επικεφαλής και τα μέλη της αποστολής από τη Λάρνακα, που βρίσκονται από χθες στην Ιταλία, απέφυγαν να αναφερθούν σε λεπτομέρειες σε σχέση με το ταξίδι τους, αυτό οργανώθηκε με πρόσκληση του αμερικανικού κολοσσού, που θέλει να δημιουργήσει περιφερειακές εγκαταστάσεις εξυπηρέτησης πλατφορμών φυσικού αερίου για εταιρείες της Κύπρου και της ευρύτερης περιοχής.

Όπως ήδη έχει γράψει ο «Φ», ταυτόχρονα στο λιμάνι Λάρνακας η Αρχή Λιμένων έχει παραχωρήσει χώρους σε δύο εταιρείες για υπενοικίαση ή συνεργασία με εταιρείες υδρογονανθράκων. Συγκεκριμένα, έχουν δοθεί 33.750 τετρ. μέτρα γης στην Medserv (Κύπρου) Λτδ (κοινοπραξία μεταξύ της Medserv - 80% - της Μάλτας και του κυπριακού επιχειρηματικού ομίλου Καραμοντάνη - 20%), που υπέγραψε χθες η ιταλική ΕΝΙ, για την εξυπηρέτηση των υπεράκτιων δραστηριοτήτων της. Η σύμβαση ξεκινά την 1η Ιουνίου και οι παρεχόμενες υπηρεσίες θα τα περιλαμβάνουν όλα, υποστήριξη, διοικητική μέριμνα, όπως και υπηρεσίες, «αποθήκευσης σωλήνων, γεωτρητικού εξοπλισμού, αποθήκευση και διαχείριση αποβλήτων, παροχή εξειδικευμένων κοντέινερ για υπεράκτιες εργασίες και άλλες βοηθητικές υπηρεσίες. Η Medserv έλαβε άδεια να επιχειρεί και έξω από το λιμάνι της Λάρνακας.

Επίσης, 37.500 τετρ. μέτρα γης και 600 τετρ. μέτρα αποθήκες στο λιμάνι Λάρνακας, έχουν δοθεί στην Gulf Agency Co (Cyprus).

Μάλιστα, μετά το ενδιαφέρον αυτό, οι εταιρείες πετρελαιοειδών που έχουν εγκαταστάσεις στην παρακείμενη περιοχή, είναι ήδη σε επαφή με εταιρείες που ζητούν χώρους για εγκατάσταση στη Λάρνακα, για να τους ενοικιάσουν γη και εγκαταστάσεις. Κάτι που εμφανώς θα αλλάξει τα σχέδια μετακίνησης των εγκαταστάσεων πετρελαιοειδών από την πόλη.

Ενδιαφέρον για μαρίνα - λιμάνι

Η κυβέρνηση έχει ενώπιόν της το τελευταίο διάστημα ενδιαφέρον που η ίδια χαρακτηρίζει ως σοβαρό, από υποψήφιους επενδυτές για την ανάπτυξη της μαρίνας και του λιμανιού στην πόλη, κάτι που έρχεται σε πλήρη αντίθεση με τη βιομηχανική ανάπτυξη που προωθείται με τετελεσμένα. Όπως γίνεται αντιληπτό, μετά την οικονομική στενότητα και ακινησία της τελευταίας διετίας, έχει αρχίσει να εκδηλώνεται ενδιαφέρον από χρηματοδότες και υποψηφίους επενδυτές.

Ωστόσο, την ερχόμενη Τετάρτη, το Υπουργικό Συμβούλιο θα κληθεί να αποφασίσει αν θα παρατείνει τη διαδικασία εξεύρεσης επενδυτή και υπογραφής συμφωνίας με την επιλεχθείσα κοινοπραξία, ώστε να υπάρξει η τουριστική ανάπτυξη της πόλης ή αν θα λήξει το θέμα και να γίνει αναφορά για νέα διαδικασία στο μέλλον. Κάτι που θα ανοίξει τον δρόμο για πλήρη βιομηχανική ανάπτυξη του λιμανιού της Λάρνακας και των παρακείμενων περιοχών με αντίστοιχες επιπτώσεις στον τουρισμό.

Παράλληλα, σκέψεις για αναφορές σε «προσωρινές» αποφάσεις, δηλαδή να δοθεί άδεια για βιομηχανικές εγκαταστάσεις περιορισμένου χρόνου –π.χ. 2-3 χρόνια– κρίνονται τόσο από Λαρνακείς που στηρίζονται στην τουριστική ανάπτυξη, όσο και από τον βιομηχανικό κόσμο της Λεμεσού που αντιδρά έντονα στην απομάκρυνση των εργασιών από την πόλη τους, ως πρόσχημα. Κι αυτό γιατί τέτοιες εγκαταστάσεις έχουν πολύ μεγάλο κόστος, ενώ οι δραστηριότητες των υδρογονανθράκων θα διαρκέσουν για μερικές δεκαετίες τουλάχιστον.

Πράσινο από Βουλή για το νέο Δ.Σ. ΕΥΚ

Η κοινοβουλευτική Επιτροπή Εμπορίου άναψε χθες το πράσινο φως στον διορισμό της Προέδρου και των μελών της Εταιρείας Υδρογονανθράκων Κύπρου. Ο υπουργός Ενέργειας Γιώργος Λακκοτρύπης, αφού εξασφάλισε την έγκριση του Υπουργικού Συμβουλίου για τα νέα μέλη της ΕΥΚ, ενημέρωσε τη Βουλή και έστειλε στους βουλευτές τα βιογραφικά των νέων μελών. Όπως έγραψε ο «Φ» την περασμένη εβδομάδα, πρόεδρος της ΕΥΚ διορίστηκε η Τούλα Ονουφρίου και μέλη ο Κωνσταντίνος Λυκούργος, ο Μάικ Ευθυμίου, ο Κωνσταντίνος Νικολάου, ο Θεόδωρος Τσακκίρης, ο Γιώργος Γεωργιάδης και ο Λένας Μυλωνάς.

Την ίδια ώρα, ολοκληρώνονται και οι διαδικασίες αλλαγής του Διοικητικού Συμβουλίου της ΔΕΦΑ. Την Τετάρτη ο υπουργός Ενέργειας εκ μέρους του μετόχου, κάλεσε Γενική Συνέλευση στην οποία αφού συζητήθηκε η μέχρι τώρα πρόοδος στη διαδικασία του διαγωνισμού για την ενδιάμεση λύση, ανακοίνωσε στα μέλη του Δ.Σ. την απόφαση της Κυβέρνησης για αντικατάστασή τους, αφού τους ευχαρίστησε για την πολυετή προσφορά τους. Με την αλλαγή, αποχωρεί ταυτόχρονα η ΑΗΚ από τη Δημόσια Εταιρεία Φυσικού Αερίου.

Ο Γιώργος Λακκοτρύπης, όρισε για σήμερα νέα έκτακτη Γενική Συνέλευση της ΔΕΦΑ, για να αναλάβουν και επίσημα τα νέα μέλη του Δ.Σ. Οπως επίσης έγραψε ο «Φ,» επικεφαλής της ΔΕΦΑ, παραμένει η δρ Έλενα Βασιλιάδου και ως νέα μέλη διορίζονται ο δρ Αντρέας Πουλικάς, ο Τάσος Κουνούδης, ο Συμεών Κασιανίδης, ο Γιώργος Παμπορίδης, ο Μιχαλάκης Ανδρέου, ο Κωνσταντίνος Παπαναστασίου και ο Άνταμ Λόμας.

Γράφει: Πέτρος Θεοχαρίδης

SOURCE

Medserv awarded multi-million contract in Cyprus | Medserv

Medserv awarded multi-million contract in Cyprus
12/03/2014

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Medserv awarded multi-million contract in Cyprus

The Eastern Mediterranean becomes Medserv's main line of income as the company announces that its bid for an oil and gas support contract offshore Cyprus was successful.

Italian oil company, Eni, have appointed Medserv (Cyprus) Ltd to provide them with operational base support services. The contract is for three years with a possible extension for an additional two years. The value of the contract runs well into the multi-million Euro mark, making the Eastern Mediterranean presently the main source of income for the Medserv Group.

“We have focused on our expansion and diversification plans over the last 18 months and I am happy to announce that both have been achieved. This was especially important for the company given the difficult situation we faced in the aftermath of the unrest in North Africa.” said Mr Anthony Diacono, Medserv Group Chairman. “Whilst North Africa will continue to play an important role, we are happy to announce that our efforts in Cyprus are bearing fruit. Diversification is important to ensure continued success, and at the end of the day secure the benefits we promised our shareholders.”

The contract is set to commence on the 1st June 2014 and will be conducted out of the Company's new base in Larnaca. The services provided will include all logistics support to Eni and its service contractors. These will include storage of tubulars, drilling materials, warehousing, waste management, provision of specialised offshore containers and other ancillary services.

In 2013 Medserv obtained a license to operate out of the Port of Larnaca. The company was also able to successfully purchase the shares held by the former minority shareholders in the Cyprus subsidiary which have now in part been reissued to new partners. Medserv now owns 80% of Medserv (Cyprus) Ltd and Caramondiani Group hold the remaining 20% shareholding of the company.

The oil & gas industry has recently shown significant attention to the Levantine Basin as it is one of the newest exploration frontiers with giant gas potential. Eni last year signed Exploration and Production Sharing Contracts with the Ministry of Energy, Commerce, Industry and Tourism of the Republic of Cyprus for Blocks 2, 3 and 9, located in the Cypriot deep offshore portion of the Levantine basin.

Link to source: http://medservmalta.com/news-medserv-awarded-multi-million-contract-in-cyprus