Tuesday AM May 5th, 2009
by: Ed Mayberry, May 5, 2009 8:05:58 pm
In 1969, the Offshore Technology Conference had 4,200 attendees and 200 exhibitors. It's grown to more than 70,000 attendees and 2,500 exhibitors over the last four decades, now set up at Reliant Center. OTC spotlights the latest and newest technologies for the offshore oil and natural gas industry, ranging from software to massive drilling equipment. Chairman Don Vardeman says several panels are addressing price volatility and navigating a long-term business through short-term uncertainty.
"Couple of panels sessions this year have to do with execution of major projects and capital commitments, capital expenditures associated with properly executing large projects. This is always very important for the industry. We have to look long-term. We have to then be very efficient with what we are doing, so the large capital projects tend to draw a lot of attention."
Vardeman says OTC keeps professionals in the industry coming back year after year, because it's a conference that changes each year.
"We have a very dynamic organization that allows to be responsive to the current problems that are being addressed by the industry, and then assembling the experts. And one of the key things that happens at OTC is very open sharing of lessons learned and things that people have done, ideas that people are having. So we focus on the technology that is used to solve the issues that are facing the industry, on a yearly basis."
The four-day conference includes a session addressing technology for equipment to withstand hurricanes and another session looking at special problems of drilling in the Arctic.
Ed Mayberry, KUHF Houston Public Radio News.