Medserv Middle East Subsidiary awarded largest contract of the Group to date
Medserv’s Middle East subsidiary, METS, has been awarded a new long term contract by Japanese Sumitomo Corporation, for the supply chain management of Oil Country Tubular Goods (OCTG) to Petroleum Development Oman (PDO), a joint venture between the Government of Oman and Shell.
Rig repair and maintenance - Medserv Energy
Rig repair and maintenance - Medserv Energy
Medserv’s Middle East subsidiary, METS, has been awarded a new long term contract by Japanese Sumitomo Corporation, for the supply chain management of Oil Country Tubular Goods (OCTG) to Petroleum Development Oman (PDO), a joint venture between the Government of Oman and Shell.
 
The contract, the largest ever won by the Medserv group to date is for an initial period of five years with a five-year extension option. 
 
“It is a very exciting time for the company. This multi-million Dollar contract results from the recently signed $1.2billion contract between PDO and Sumitomo and positions PDO as the anchor tenant at Duqm as of mid-2018. They expect up to two shipments a week, each shipment carrying 3,000 metric tonnes of pipe. This equates to approximately 70 truck-loads each and every day for five years to be managed/handled by METS Oman.   We are delighted to be playing a part in this and are committed to continuing to add value to PDO’s operations in the Sultanate of Oman. The contract award is testament to METS’ ability to deliver reliable, high quality Supply Chain Management Services.” Said Anthony Diacono, Chairman Medserv plc.
 
METS will be opening up a new facility of 117,000 sq.m at the new port of Duqm in Oman in order to be able to cater for the significant increase in volumes of product to be handled as a result of this contract. Sumitomo and METS are delighted to place in-country value at the heart of this contract delivery and to contribute to the strategic objective of the Government of Oman to establish Duqm as PDO’s logistics hub of the future. This new facility will bring employment opportunities for around 60 people.
 
The new contract will include additional services over and above the previous contract Sumitomo held with METS, and will consist of inspection and rig ready / rig return services. The new facility will be able to service this expansion in scope of work with Sumitomo and PDO, and will also be able to offer the full range of Medserv logistics and engineering services from the Duqm Base.
 
The Company further announces that it has been unsuccessful in securing its first tender in Trinidad and is awaiting adjudication on a second tender. Medserv remains very active in Trinidad and the surrounding region having successfully qualified as approved logistics provider to several international oil companies operating in the region. Further tendering opportunities are expected during 2017.
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