top of page
  • Writer's pictureAdmin Totaltec

Total Shows Resilience as GlobalData Releases Upstream Impact Scorecard

May 26th, 2020 – Georgetown, Guyana – Of the European oil & gas operators, Total comes out on top in this year's GlobalData Upstream Impact report, showing a resilience to market factors that can, in part be attributed to the favourable economics of their work offshore Guyana.

GlobalData, a US-based intelligence gathering organization, specialises in research and forecasting in the oil and gas sector, among other industries. The Upstream Impact Scorecard is an aggregate of GlobalData’s Companies Benchmarking report, accounting for a wide range of performance indicators in order to provide an overall impact ranking.

The scorecard highlights the relative financial resilience of upstream operating companies in the face of industry challenges, as compared to their competitors. Factors accounted for include debt to equity ratio, budget revisions, reserve replacement and cashflow. Cash flow in particular is an important factor – it is highly sensitive to lower oil prices.

Total, a key operator in the development of offshore Guyana, came out on top in this year's Impact Scorecard, with an impact ranking of 5 out of 5 (indicating a very low impact of industry factors on Total’s overall business performance).

Daniel Rogers, Upstream Oil and Gas Analyst at GlobalData, comments: “Our latest research indicates that Total’s upstream business is well positioned to handle the market volatility and industry disruption this year. This is due to [...] strong exploration performance over the recent years…”

Other organizations in the Scorecard include Repsol, BP, Royal Dutch Shell, Eni and Equinor, each showing a higher sensitivity to market volatility, with scores ranging from 1 to 4. Whilst Total came out on top, the entire group showed lower earnings and overall business performance.

Says TOTALTEC CEO Lars Mangal, “Total’s presence in Guyana, with the favourable exploration economics offshore is a contributing factor to their high ranking in this year’s GlobalData report. The industry has, from its origins, been cyclical, driven by a combination of global economic conditions and supply & demand. That said, the conditions of today are extreme - the market share battle for production of Saudi Arabia and Russia, combined with the economic devastation from COVID-19. Also, today there is an additional factor of financially viable alternative energy sources.”


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.



Commenting has been turned off.
bottom of page