7th January 2021 – An investment of G$516 Million would go towards tripling the training capacity of the academy, adding survival training equipment and expanding the number of training days per year.
TOTALTEC Oilfield Services is in the final stages of an investment deal which will see over US$2.4M (over G$516 million) invested into the International Petroleum and Maritime Academy (IPMA).
IPMA was founded in 2018 to develop capacity in a local trained over 500 guyanese men and women, with 300 of those trainees now in successful careers in the industry.
The investment in IPMA will allow for a significant increase in training capability through advanced equipment.
Said TOTALTEC CEO Lars Mangal, “This investment targets a tripling of the number of Guyanese IPMA can train and place within the industry… it will also go towards developing an offshore survival facility.”
The survival facility to which Mangal is referring features a US$1.8M Helicopter Underwater Escape Training (HUET) installation, alongside other offshore-related safety and survival training facilities.
USD$600k would be invested into working capital, increasing the number of training days per year from 4,000 (today) to 10,000-15,000 days per year, nearly triple the capacity of the IPMA today.
Today, from it’s 1.8 acre site in Houston, Guyana, IPMA delivers world-class training in accordance with global industry standards. First Competence, OPTIO, IADC, IWCF, OSHA and NPORS are among the accreditation bodies certifying IPMA training programs. Additionally, all exercises are conducted in line with the UK government COSHH regulations.
Mangal continued, “The government is in the early stages of progressing a comprehensive Local Content Policy which will serve as a legal framework for ensuring that local Guyanese are at the heart of developing our energy resources. Training such as this will be a necessary foundation to implement such a policy.”
Despite the early stage of government-led local content regulation, ExxonMobil has invested heavily in developing capacity in Guyana. With a reported spend of G$14 billion in the first half of 2020, Exxon already utilises over 600 Guyanese suppliers, engaging local businesses for services ranging from catering to engineering. In addition to this, ExxonMobil has sent over 50 Guaynese to positions in the company internationally, to develop management skills with hands-on industry experience.
Mangal believes that ExxonMobil is the right operator to be developing Guyana’s industry, “I think the country is extremely fortunate to have a capable operator like ExxonMobil, which has the technical and operational capacity to find, develop and produce its resource at the pace required to maximise an early return and potential.”
Some US$1.8 million is planned to develop a Helicopter Underwater Escape Training (HUET) and other offshore-related training facilities.