Medserv has secured business in a market, considered by the industry to be the big new energy source on Europe’s doorstep, but has chosen not to name the market in question as discussions are still ongoing.
The company was awarded a three-year contract with the option of extending for further periods to provide the integrated logistics support services for the production phase of offshore operations being conducted by an international oil company. This new contract was awarded through a competitive tender process and is effective as from January 1, 2018. The initial value of the contract is estimated to be over €10 million with prospects for further growth in both its business units, namely, integrated logistics support services and oil country tubular goods.
“Due to commercial considerations, the international oil company and Medserv have agreed not to disclose more details at this stage, as discussions are still ongoing with third parties that could affect the expansion process of the project,” a company statement said.
Anthony Diacono, chairman at Medserv Group of Companies said: “This is a significant win for the company. Besides being a break into a new geographic territory, the contract itself poses significant potential for growth.”
RSM breaks through $5bn global revenue
RSM, the sixth largest network of independent audit, tax and consulting firms, has delivered growth in every business line, reflecting RSM’s commitment to help middle market businesses fulfil their global ambitions. 2017 was another strong year for RSM as it saw revenues rise by 5.6 per cent to $5.1 billion.
Since 2015, the focus on building the brand has paid off as RSM is enjoying greater collaboration with increased global expansion and cross-border client work jumping up by 20 per cent in 2017, a statement by the firm said.
Jean Stephens, CEO, RSM International said: “RSM’s long-term commitment is to be the adviser of choice to middle market businesses around the world. We are responding to changing business conditions and adapting our services to help businesses meet the challenges they face.”