OTC Holds Timely Opportunity To Chart E&P Industry Future
With challenges on many fronts continuing to affect exploration and production (E&P), and an industry sense of resilience and guarded optimism about oil prices, the Offshore Technology Conference (OTC) to be held from 1–4 May at NRG Park in Houston will present an especially timely occasion for worldwide energy professionals to chart the way ahead.
Visitors from more than 100 countries plan to attend the conference, and they can expect to find a rich opportunity to learn and exchange ideas on technical and commercial issues, evolving industry practices, and potential breakthrough technologies.
One of the world’s largest oil and gas industry conferences, OTC drew an attendance of more than 68,000 last year. In addition to its technical and topical sessions, OTC hosts a major exhibition of technology and services. More than 2,100 companies and organizations representing 41 countries are expected to exhibit, including 200 new exhibitors.
At an awards luncheon on 2 May, Distinguished Achievement Awards will be given to John Bomba for individual achievement and LLOG Exploration’s Delta House project for institutional achievement. The Heritage Award will be given to George (Mike) Conner, and a Special Citation will be presented to Art Schroeder.
Bomba will be honored for far-reaching contributions to the offshore sector. He recently retired from Genesis Oil and Gas after working more than 60 years in the surveying, design, installation, construction, and construction management of pipelines and related facilities on every continent except Antarctica. The author of more than 30 technical papers, Bomba holds a US patent and has served on the OTC Program Committee and the Arctic Technology Conference Oversight Committee.
The LLOG Exploration Delta House project is a floating production system in the deepwater US Gulf of Mexico (GOM) that came on stream in April 2015 with industry-leading achievements in cost control, time from discovery to first production, safety performance, reliability, and regulatory compliance. The project’s breakeven oil price from inception was USD 27/bbl and going forward is below USD 20/bbl.
Conner will be recognized for championing the safe development of new technologies, particularly in the GOM. He is a technical adviser to the US Bureau of Safety and Environmental Enforcement (BSEE) and has sponsored and actively participated in several joint-industry projects, BSEE-sponsored research projects, and other industry forums to promote new technology development. Conner has worked to identify potential hazards for each technology, develop mitigations for each hazard, and determine the conditions of approval for allowing use of the technology.
Schroeder will be cited for contributions in crisis and risk management, research and development, and operational project management. In an offshore-industry career of 40 years, he has served on the OTC Board of Directors and the conference program committee. Schroeder created The Next Wave program for young professionals at OTC and helped to launch the conference’s inaugural d5 event. He also played a key role in establishing the Research Partnership to Secure Energy for America.
The luncheon annually raises funds for a worthy cause. This year’s beneficiary is Oilfield Helping Hands, a nonprofit organization that provides monetary assistance to oilfield workers in financial crisis.
From almost 1,000 abstracts submitted, the program committee has selected 348 papers to be presented at technical sessions and 47 submissions to be presented in poster format. OTC’s 44 technical sessions will be spread over the conference schedule with presentations each morning and afternoon. Additionally, 13 panel sessions are slated. They include
- Mad Dog Field: A Multi-Disciplinary Look at the Opportunities, Technology Breakthroughs, Challenges, and Learnings of a Giant Deepwater Field Development
- Operators Offshore in Brazil: Under a Promising and Positive New Environment
- Offshore Energy Policies: Harnessing the Full Potential of America’s Offshore
- Active Arena: Jointly Leading Towards the Industry Upturn
- Libra Project: Reducing Breakeven and Preparing for First Oil
- Bringing Upstream Projects to Final Investment Decision (FID)
- Safety in the New Offshore World
- The Digital Disruption is Here
- Well Abandonment and Decommissioning Challenges
- Big Data and Data Analytics
- Invited Organization: Offshore Operators Committee—Risk Management of Well Intervention in the Gulf of Mexico
- Will Mexico Drive a Deepwater Renaissance?
- Center for Offshore Safety and Society of Petroleum Engineers Panel: Managing the Human Side of Safety
Topical and Industry Breakfasts—Nine topical breakfasts will be held throughout the 4-day conference on subjects including offshore operations, safety, security, cost reduction, decommissioning, and specific international project venues. In addition, two industry breakfasts will be held, focusing on development opportunities in the Caspian region of Azerbaijan, Kazakhstan, and the Turkish Energy Corridor (2 May) and Mauritania and Senegal (3 May).
Topical Luncheons—Twelve topical luncheons are scheduled over the 4 days of the conference. Subjects include global projects, deepwater development, innovation and technology, regulation, the changing nature of reservoir and resource economics, safety, and offshore wind energy.
The Next Wave—This year’s edition will address issues faced by young professionals and provide them with a comprehensive toolkit of ideas, suggestions, and strategies to help build them into well-rounded and world-class future leaders.
The keynote speakers are Yuliya D. Mercer, senior counsel at BP America, Scott Nyquist, senior partner at McKinsey & Company, and Kristie Hartley, vice president of finance and chief financial officer at Daniel Measurement and Control. Discussion by a distinguished group of panelists is also on the program.
Teacher and Student Programs—The Energy Education teacher workshop welcomes science teachers (grades 9–12) to attend a free, 1-day seminar to receive hands-on training by qualified facilitators, hear a presentation from a prominent speaker, and tour the exhibit floor. The teachers will receive a variety of free instructional materials to take back to their classrooms.
About 150 high school students will get a firsthand look at the opportunities the industry offers. The students will go on a scavenger hunt of the technology exhibits, take part in hands-on energy lessons led by qualified facilitators, and meet industry professionals to learn about E&P careers.
d5: The Next Big Thing—OTC’s d5 event at Rice University on 5 May is designed to inspire leaders and innovators to address current challenges and drive exponential growth in the energy industry. This year’s program theme is Innovation Throughout the Economic Cycle.
The speakers will include Nina Simosko, president and chief executive officer of NTT Innovation Institute, Riaz Siddiqi, founder and manager partner of Denham Capital, José Olalla Hevia, head of business development and digital transformation at BBVA Compass, and Tony Cucolo, Major General, US Army (retired), and associate vice chancellor for leadership development and veterans affairs at the University of Texas System.
The speakers will also lead group discussions and join in breakout sessions with audience members. The intent is to equip participants with a thoughtful starter kit to lead, develop, and change the course for the way ahead. A panel of participating oil and gas executives will wrap up the event with a discussion of how to apply what they and others have learned at d5 to their companies and the industry.
OTC Holds Timely Opportunity To Chart E&P Industry Future
Joel Parshall, JPT Features Editor
01 April 2017
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12 May 2020