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Guyana Keenly Watched by Global Leaders as Oil & Gas Portion of the Energy Sector Produces First Oil

January 20, 2020 – Georgetown, Guyana – Guyana just completed one month of oil production and the first 1 million barrels is about to be shipped.


The eyes of the world are on government decisions that will impact the future of the country. One set of those eyes is Fair Observer, a nonprofit media organization that engages in citizen journalism and civic education. Quoting their website, “Our digital media platform has more than 2,000 contributors from over 80 countries, cutting across borders, backgrounds and beliefs. With fact-checking and a rigorous editorial process, we provide diversity and quality in an era of echo chambers and fake news.”


Two articles written by the Fair Observer highlight the increasing importance of keeping a balanced energy sector, unwavering in commitment to protecting the wealth of resources inland as the offshore ones are developed. In an article titled “Will the West Lose Guyana to the Chinese”, the Fair Observer quotes, “Guyana’s future is most likely either along the Equatorial Guinea path — where a small elite takes all the oil money and the majority remain in poverty — or the Norwegian model. Under the latter, the oil money is invested wisely so that all citizens become wealthy.”


In a second article titled ‘With the discovery of oil, Guyana must invest in protecting the environment”, the Fair Observer notes Guyana has a history of conservation that goes as far back as the establishment of the Iwokrama International Centre for Rainforest Conservation and Development in 1996, but the Low Carbon Development Strategy (LCDS) was perhaps the first major policy document that sought to concretize the country’s commitment to the development of a green state model. A decade later, Guyana has become the regional leader in environmental protection and climate action, with funds provided by Norway as part of a $250-million forest protection agreement signed in 2009 being the backbone of most projects so far implemented.”


Guyana has a long history of protecting the wealth of pristine natural resources, including as home to one of the most un-damaged forests in the world. In recent years, deforestation has declined and stayed at a steady 0.05%. Money invested into the country by Norway in 2009 has been allocated to funding solar projects and other critical energy infrastructure development. Continuing the complex path of developing through a long-term development strategy will ensure that Guyana, in the years to come, becomes a case study for the ‘right way’ to discover and harness the potential of oil.


Lars Mangal, CEO of TOTALTEC commented, “A commitment to building a balanced energy sector–and a conscious avoidance of relying only on oil & gas–will go a significant way to ensuring Guyana’s future is sustainable and wealth evenly distributed. Guyanese companies on the ground have a critical role. Our country has an opportunity to show the way forward for a responsible approach to development balancing energy and the environment.”

Read both Fair Observer articles here:


https://www.fairobserver.com/region/latin_america/guyana-oil-discovery-green-state-model-economic-diversification-news-14251/


https://www.fairobserver.com/region/latin_america/guyana-oil-reserves-exxon-nexen-us-china-south-america-news-99187/


About TOTALTEC


TOTALTEC Oilfield Services is focused on the success of the oil industry in Guyana for the benefit the country, its people, and partner companies. It does this through three areas: people, partnerships, and facilities. Qualified and motivated Guyanese develop through the International Petroleum & Maritime Academy. Partnerships prioritize products and services that are starting points to grow from, creating new Guyanese led companies. Examples are Guyana Shore Base, Inc. providing support to offshore operations and Jaguar Oilfield Services offering a complete range of lifting equipment and inspection services. The 94% Guyanese TOTALTEC workforce includes 8 nationalities with over 160 years of international oilfield experience. https://www.totaltec-os.com

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