The Offshore Technology Conference (OTC) that takes place annually in Houston, Texas bringing the biggest and brightest names in energy together under one roof has come to a close. Here are some of the takeaways and highlights from OTC 2015.
As a result of a sluggish oil market, this year’s largest energy industry equipment showcase had its lowest attendance levels in three years. According to conference officials, attendance this year was 94,700, compared to a record-setting 108,300 attendees in 2014.
A good public relations move for the organization was admitting 1,300 laid off job-seekers for free Thursday in an effort for them to connect with potential employers.
Although attendance declined, the number of exhibitors grew by 114 to 2,682 total, increasing space occupied as well, up 15,000 square feet to 695,005 square feet.
Safety and Regulation
Brian Salerno, Director of The Bureau of Safety and Environmental Enforcements, stated at OTC 2015 that federal regulators will tighten measures for offshore operators. Based on the experience and performance history of operators would determine if they are qualified to explore for oil and gas in coastal waters.
Normally at OTC you have traditional chairs with backs everywhere for seating. However, this year the seating was more fashion than function. I doubt if these make the cut for OTC 2016.
Fracking Equipment on Display
Fracking boosted US oil supplies to the highest levels ever and had foreign oil firms interested in the technology.
OTC Awards Presented
Distinguished Achievement Awards Winner- Elmer (Bud) Danenberger
Distinguished Achievement Award for Companies, Organizations, and Institutions- Petrobras
Heritage Award Winner- Ray R. Ayers, Ph.D., PE