February 25th, 2019 – Houston, Tx. – A Guyana investment event was held this week in Houston in conjunction with the Greater Houston Partnership, including a luncheon sponsored by Chevron and co-organized by TOTALTEC. The message to the 75 plus attendees was clear; with recent discoveries and first oil production planned for early 2020, now is the time to invest in building the future of Guyana.
Welcome remarks from John Cypher, Americas Director of the Greater Houston Partnership, opened the meeting. Talks from prominent Government Ministers and others followed, including:
An Overview of Business in Guyana, given by Dominic Gaskin, Minister of Business
Doing Business in Guyana: Creating a Preferred Investment Destination in Guyana, given by Owen Verwey, Chief Executive Officer, The Guyana Office for Investment (GO-Invest)
Infrastructural Investment Opportunities in Guyana given by Hon. David Patterson, Minister of Public Infrastructure
Introduction to Guyana, its Geography and Geology given by Newell Maurice Dennison, Commissioner of the Guyana Geology and Mines Commission
Information & Telecommunications Opportunities in Guyana given by Hon. Catherine Hughes, Minister of Public Telecommunications
Said Minister Catherine Hughes, “Guyana is open for business. We understand that we cannot achieve all of our goals by ourselves. Private sector partnerships, with the attendant investments, are critical. Guyana is on the cusp of being, at the very least, a regional economic power as a result of significant discoveries of oil and gas. We want to develop an economy that is fully diversified and competitive; one that provides the greatest opportunities for those looking for sustainable returns and interested in the growth and development of our returns.”
The event marks an acceleration of interest in private sector investment in Guyana. Said Lars Mangal, CEO of TOTALTEC, “Two additional discoveries this month by ExxonMobil, bringing the total number in the Staebrok Block to 12, provides a sense of urgency in both Guyana and potential investors, to keep pace with increased activities of international operators. What potential investors heard today was that government been moving to create the environment for mutual success since that first discovery in 2015, and they are ready to keep pace.”
A number of the discussions centered on developing Guyanese people, and taking the long-term view. In attendance was Professor Ivelaw Lloyd Griffith, Vice Chancellor and Principal of the University of Guyana, who emphasized the university has started new programs in petroleum engineering and geoscience, and that these offer powerful opportunities for international companies to participate in meaningful ways.
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 Academy. Partnerships prioritize products and services that are starting points to grow from, in effectively introduce companies new to Guyana. The Guyana Shore Base facility is now supporting offshore operations.
The 94% Guyanese TOTALTEC workforce includes 8 nationalities with over 160 years of international oilfield experience. https://www.totaltec-os.com