13 July 2023 – Georgetown, Guyana – In a strategic move designed to accelerate the building of capacity in Guyana, TOTALTEC Oilfield Services Limited (TOSL), formed in 2016, is evolving. Guyanese entrepreneur and TOSL CEO Lars Mangal has established a Guyanese company from the energy and supporting services portion of TOSL. Through a broad range of services, products and partnerships, the focused organization, TOTALTEC Inc., will both deliver value and be a catalyst to accelerate local growth in the sector. This strategic move creates a focused Guyanese company, divesting the various partnerships and investments of TOSL.
Strategy Includes Focus, Streamlining, and Synergies
The consolidation of the service businesses under the new company will facilitate streamlined operations, improved efficiency, and increase synergies across the organization. The starting point is a range of specialized solutions tailored to the unique requirements of the rapidly growing Guyanese energy sector. These services include infrastructure development, workforce management, supply chain logistics, training, specialized engineering, and consultancy services.
TOTALTEC CEO Lars Mangal expressed his excitement about this new chapter in the company's journey, which began in 2016.
"Establishing TOTALTEC to consolidate our service businesses is a strategic move that aligns with our long-term growth strategy," said Mangal. "We are committed to providing exceptional service, building capacity, promoting local content, and contributing to the sustainable development of the Guyana energy sector."
Local Content Legislation is Key
The Guyana Local Content Legislation was a factor in this strategic move.
Said Mangal, "Having local content legislation categories updated and expanded annually drives the international companies to find suppliers, seek partners, and be proactive in moving scope to Guyana."
Guyana continues as the global energy hot spot, with the pace of development accelerating with each new major project. With this corporate evolution, TOTALTEC is positioned to capitalize on the increasing opportunities in Guyana's energy sector.
Mangal continued, "When two or more international companies are delivering similar scope, there is competition to lead in local content. The TOTALTEC history of creating local partnerships gives us a strong foundation to grow from."
The company remains dedicated to upholding the highest standards of safety, efficiency, and environmental stewardship, while fostering partnerships and collaborations that benefit the local community and drive socio-economic progress.
For more information about TOTALTEC and its comprehensive range of oilfield services, please visit https://www.totaltec-os.com/ or email info@totaltec-os.com .
About TOTALTEC Inc.:
TOTALTEC Inc. is a majority Guyanese owned and operated company focused on building capacity in Guyana in support of the energy industry, for the benefit of the country, its people, and partner companies. It does this through services and partnerships that both add value and build capacity. Services include infrastructure development, workforce management, supply chain logistics, training, specialized engineering and consultancy services. Qualified and motivated Guyanese develop through the TOTALTEC Academy, where more than 2,500 have been trained to international standards. Partnerships prioritize products and services that are starting points to grow from, creating Guyanese led companies, for example Jaguar Oilfield Services. Facilities include modular offices/shop/lab fabrication, open yards and storage areas. The TOTALTEC 96% Guyanese workforce includes 6 nationalities with more than 180 years of international oilfield experience. https://www.totaltec-os.com/
TOTALTEC Inc. CEO Lars Mangal will steward the newly focused company on a journey of growth through an expanded services portfolio, driving local content and capacity building.