Medserv: Medium-Term Forecast Remains Positive

By John Lee.

Medserv, the Malta-based oil and gas logistics support and services group, has said that its Iraqi business remained weak through Q1 2018.

But in its Interim Report, the company said the forward order position in Iraq is much healthier for the second quarter of 2018 and those levels are expected to be maintained.

It added:

“The medium-term forecast on Iraq remains positive with the number of land rigs mobilized to oil fields showing a healthy increase over 2017. This flows through as more demand for the METS Iraq’s services.”

(Source: Medserv)