STI Group is pleased to have the opportunity to attend and have a booth at the 2014 Offshore Technology Conference. OTC is an annual event which brings together experts from around the world in the offshore drilling industry. Its focus is the development of offshore resources and technology in the areas of exploration, drilling, and production. The event is being held May 5th through May 8th in Houston, Texas. It is anticipated that there will be more than 90,000 people from over 120 countries worldwide in attendance.
What Is OTC?
OTC is a collaborative effort that is put on by 13 different member organizations and societies that take an active role in the development of offshore technology. The 13 organizations include the following:
- American Association of Petroleum Geologists (AAPG)
- American Institute of Chemical Engineers (AIChE)
- American Institute of Mining, Metallurgical, and Petroleum Engineers (AIME)
- American Society of Civil Engineers
- ASME International Petroleum Technology Institute (ASME-PD)
- Institute of Electrical and Electronics Engineers, Oceanic and Engineering Society (IEEE-OES)
- Marine Technology Society (MTS)
- Society of Exploration Geophysicists (SEG)
- Society for Mining, Metallurgy, and Exploration Inc. (SME)
- Society of Naval Architects and Marine Engineers (SNAME)
- Society of Petroleum Engineers (SPE)
- The Minerals, Metals, and Materials Society (TMS)
- Brazilian Petroleum, Gas and Biofuels Institute (IBP)
In addition to these 13 member organizations the OTC is also endorsed by two other organizations:
- International Association of Drilling Contractors (IADC)
- Petroleum Equipment Suppliers Association (PESA)
OTC is further supported by another 10 organizations:
- American Association of Drilling Engineers (AADE)
- American Petroleum Institute (API)
- Association of Energy Service Companies (AESC)
- ASTM International
- Independent Petroleum Association of America (IPAA)
- Institute of Marine Engineering, Science, and Technology (IMarEST)
- International Marine Contractors Association (IMCA)
- International Society of Automation (ISA)
- National Ocean Industries Association (NOIA)
- Research Partnership to Secure Energy for America (RPSEA)
About OTC’s Program
Each year the OTC is held in Houston’s Reliant Park and it always features informative presentations and exhibitions relating to offshore technology. This year will feature some big highlights including:
Project Updates – The OTC will showcase project updates from all around the world including the Shell Mars B Project which when it reaches its peak will add about 100,000 boe a day. Meanwhile other national and international companies will also present updates and share their best practices. Such companies include Petronas, BP, Total, Pemex, Noble, Statoil, Chevron, CNOOC, Maersk, Marathon, INPEX, and Anadarko.
Ensuring Talent Resources for Tomorrow and Training New Professionals – As the name implies this program will be all about ensuring talent and training in the subsea engineering discipline. It will feature a presentation from Global Subsea University Alliance, which is an organization that establishes global subsea curriculum standards in coordination with international companies in that sector.
New Topics Introduced – OTC will also be presenting new technologies, applications, and solutions for process safety and underwater monitoring networks and sensing in offshore operations. Japan Oil, Gas and Metals National Corporation (JOGMEC) will be presenting the results of its first marine methane hydrate production test. It will also highlight methane hydrate as a resource. This is a major breakthrough in the industry which allows the production of hydrate from the seabed to be a near-term reality.
Economic Future – The OTC will also feature discussions of the economic future of the offshore industry. Some of the many economic topics to be discussed include oil economics and gas monetization, as well as CAPEX outlook, which will provide a view of what lies in store for the industry. Experts from key companies such as Marathon, Douglas-Westwood, and Total will be in attendance to discuss the energy forecasts. The event will also feature a discussion of significant changes in Mexico’s oil sector, which will likely have profound effects throughout the Gulf region.
Unconventionals’ Impact Offshore – The OTC will also have a discussion about the impact that the unconventional play revolution has had, and will continue to have, on the offshore deepwater industry.
STI Group Looks Ahead
STI Group is extremely excited to be attending this year’s OTC. The event acts as a way to keep a finger on the pulse of development in the offshore industry and larger oil and gas industry as a whole. It also serves as a prime opportunity to cultivate new connections and relationships which will benefit our customers for years to come. Last year’s OTC event featured a record-breaking, 30 year high in attendance. We are looking forward to seeing what 2014 holds.
