On Oct 4th, 2016, TOTALTEC Oilfield Services Limited (''TOTALTEC'' or the ''Company'') successfully completed its initial equity finance raising from a number of private investors, price undisclosed. TOTALTEC intends to use the proceeds from this equity raise to establish its presence in Guyana and fund the initial stages of its strategy to provide a Guyana based oilfield services company to enable the growth and development of indigenous content and competence in the oil & gas industry in Guyana.
TOTALTEC is a newly established company focused on the Guyana oil & gas industry in support of the major discovery by ExxonMobil offshore Guyana in 2015. Its aim is to contribute to the development of the oil & gas industry in Guyana by providing training, development, engineering, technical advisory, support and consultancy services to the local community, government and international operators and service companies in Guyana.
TOTALTEC has also launched PETROGO.Org, PETROGO is owned and operated by TOTALTEC as an effective membership platform and vehicle for promoting the offshore industry’s capabilities to key clients in Guyana and providing market information to its member companies and organizations. TOTALTEC’s international team come from a strong former Schlumberger and Welltec executive bench.
Simmons & Company International Limited served as corporate finance advisor and Pitmans LLP acted corporate legal advisor to TOTALTEC and its founders on the start-up equity financing.
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