Medserv curtails Libya operations

Medserv plc has “significantly” curtailed its operations in Libya because of the turmoil in the country, according to a company statement on the Malta Stock Exchange.

Medserv operates support bases for the oil and gas industry in the Mediterranean and owns one such base in Misurata, Libya, which has been in the hands of anti-regime protesters since Wednesday. Misurata is the third largest city in Libya and the largest city in the western half in the country to fall into the hands of the insurgents.

Medserv Misurata has operated in Libya since 2007. Its facilities are located within the Misurata free zone area and the company is a joint venture between Medserv plc and the Misurata Free Zone Authority.

Medserv issued the following statement yesterday: “The company has operations in Libya and has a subsidiary located there since 2007. The current political scenario in Libya has caused the company to significantly curtail its activities in that country.”

It added: “The exceptional nature of the instability that has been created in Libya is being kept under close review by the directors with the aim of obtaining reliable information that should enable them to assess the possible impact that this may have on the company’s operations both in the short term and the longer term.

“However, the level of uncertainty, as well as the integrity of the information being received is such that it would be premature to make any assessment of the situation at the moment. The company continues to service its clients from its base at Malta Freeport.”