TOTALTEC Looking to Invest G$516M into IPMA
January 7th, 2021 – Georgetown, Guyana – TOTALTEC Oilfield Services is in the final stages of an investment deal that will see IPMA receive US$2.4M funding to expand facilities and capacity, in an effort to increase efforts at building local content in Guyana.
The investment into IPMA facilitates the expansion of two areas: infrastructure and capacity.
Of the US$2.4M, US$1.8M is planned to build a Helicopter Underwater Escape Training (HUET) facility, alongside other offshore-related safety and survival facilities. HUET training is a critical component of ensuring offshore safety and survival, and the addition of this facility will place IPMA firmly at the top of the region’s training academies in terms of the breadth of training offered.
US$600k is planned for working capital, expanding the current number of training days per year from 4,000 to 10,000-15,000. Expanding capacity will triple the number of trainees the academy is able to welcome every year. Already – and only two years since its inception – IPMA has trained over 500 Guyanese men and women, placing 300 into careers in the energy industry in Guyana. The working capital injection allows IPMA to more than triple this number, increasing the number of opportunities available to locals.
Says TOTALTEC Oilfield Services CEO Lars Mangal, “There is a very unique opportunity for Guyana and for all the stakeholders - ExxonMobil, other operators, the government and civil society - to participate in something that can truly be unique and valuable, a showcase for the world.”
As the Government begins building a panel for the creation of a local content policy, ExxonMobil is already committed, with reports of spend in the local economy reaching G$14 billion in the first half of 2020. ExxonMobil’s direct workforce in Guyana now stands at 155, 50% of whom are Guyanese. More broadly, ExxonMobil engages with over 600 local suppliers of services ranging from catering to engineering, with an estimated 2000 Guyanese supporting ExxonMobil operations both onshore and offshore.
Today, IPMA operates on 80,000 sq. ft. of base, dedicated to graduating Guyanese into rewarding careers in the oil and gas industry. With courses accredited by multiple international standards and accreditation bodies, the Academy is already amongst one of the most rigorous in the region. The investment by TOTALTEC will serve to increase the quality of program and size of opportunity for local Guyanese seeking opportunities in the energy sector.
Says Mangal, “This is truly a unique, once-in-a-lifetime opportunity that we are experiencing here in Guyana. We must seize it.”
Some US$1.8 million will be invested into Helicopter Underwater Escape Training (HUET) and other offshore-related training facilities.
TOTALTEC Oilfield Services is focused on the success of the oil industry in Guyana for the benefit of 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