Lars Mangal, the founder of TOTALTEC Oilfield Services Limited (TOSL), announced on Tuesday the establishment of a Guyanese company, formed from the energy services portion of TOSL. This strategic move creates a pure Guyanese oilfield services company, while at the same time, divesting the various partnerships and investments of TOSL.
It was explained that the new company, TOTALTEC Inc. (TOTALTEC), will be exclusively focused on energy services, demonstrating Mangal’s the commitment and vision to build local capacity, drive growth, innovate, and establish service offerings within the Guyanese energy sector.
Notably, it was stated that the consolidation of the service businesses under the new company will facilitate streamlined operations, improved efficiency, and increased synergies across the organization
TOTALTEC, this news agency understands, is focused on 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 expressed his excitement about this new chapter in the company’s journey, which began in 2016.
He said, “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 services, building capacity, promoting local content, and contributing to the sustainable development of Guyana’s energy sector.”
With this acquisition, TOTALTEC is positioned to capitalize on the increasing opportunities in Guyana’s energy sector, said Mangal. The CEO added, “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.”
About TOTALTEC Inc.
TOTALTEC Inc. is a majority Guyanese owned and operated company focused on the success of the energy industry in Guyana for the benefit of the country, its people, and partner companies. It does this through a focus on 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 multi-client offices/shop/lab fabrication, open yards and storage areas.
