Medserv, the logistics and support company servicing the international oil and gas industry, on Monday announced it had entered into a Memorandum of Understanding to set up a joint venture with T.E.A. Shipping, a company incorporated in Italy.
TEA Shipping provides services to oil exploration companies and rigs.
The new venture would seek to win further business within the Italian oil and gas industry. In a company announcement, Medserv said the MoU was subject to contract and satisfactory documentation.