Medserv plc, a Maltese company that provides logistical support to oil and gas companies, says it is keen to return to Misurata as soon as it can and believes it is “well-placed” to benefit from the resumption of operations in the Libyan oil industry.

Following a group board meeting, the company issued an interim financial statement which said that, despite a drop in turnover, it had managed to “more or less” maintain last year’s profit levels.

“We were quick to react to the situation in Libya by resizing our operations, undertaking a tight cost-control exercise, realising alternative revenue streams and maximising Medserv’s potential on all business opportunities,” the group’s financial controller Karl Bartolo said.

In its statement, the group explained that its Misurata base had not operated fully for months but its Malta base became a safe haven for the relocation of oil field equipment and facilitating the repatriation of staff employed by oil companies.

“The Malta base was responsible for evacuating most of the workers situated on the oil platforms offshore Libya and our quay in Birżebbuġa has been pretty busy especially during February and March,” the group’s operating officer Godwin Borg said.

There has been some damage at the Misurata base but the group said this was not serious and most of it could be repaired.

There are no Maltese workers in Misurata but some Libyan employees report for duty when possible and have taken steps to protect the base.

“We were one of the first to evacuate our Maltese employees. Our Libyan employees remained on the ground and have shown incredible tenacity and bravery. We have been in constant contact, and provided as much support as we possibly could. However, only by being in their shoes can you really begin to understand what they went through,” said Mr Borg.

The group said it remained ready to restart operations in Misurata “as soon as it was deemed safe to do so and when clients return”. The existing offshore oil and gas platforms would be the first operations to restart and these would in the main be served from the Malta base.

“The group also looks forward to the restarting of the planned programme for drilling production wells in the offshore Bouri field when hostilities cease, and to the commencement of existing planned programmes of international oil companies for which Medserv already has signed contracts.”

In the meantime the group said it would continue to take measures to safeguard the company’s financial position and to ensure it was able to react speedily to any positive developments in Libya.