Medserv is a Malta-listed provider of support services to the oil and gas industry. It operates an increasing number of onshore bases in support of offshore drilling activity in the Mediterranean, the two principal locations currently being Malta and Cyprus. It moved into the oil country tubular goods (OCTG) pipe services business for onshore activities in the “easy oil” markets in the Middle East through the acquisition of METS in early 2016. The challenges that arose from the sharp reduction in oil exploration and production capex budgets following the fall in the oil price are now stabilising. Contract renewals and recent discoveries provide reasons for optimism when market conditions improve.