OTC Returns to Houston

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Editor's note: This article appears in the special OTC edition of the E&P newsletter.Subscribe here.

OTC in Houston is back this year, looking different and offering new sessions designed to immerse attendees virtually or in-person into offshore technology.

The return of the oil and gas industry’s largest offshore energy conference, following last year’s cancellation due to the COVID-19 concerns, comes as the sector works to seize opportunities with the transition to cleaner forms of energy underway, while meeting today’s energy needs. 

“OTC has always served as a central hub for convening the best and brightest minds in the world to share ideas and discuss, debate and build consensus around the most pressing topics and innovations facing the offshore industry,” said Cindy Yeilding, chairwoman of the OTC board of directors, representing the American Association of Petroleum Geologists. “Despite this year’s unique, hybrid program, it’s always exciting to learn from and meet professionals in the offshore technology sector, and this year will be no different.”

One of the silver linings of the last year and a half is the rise of digital and virtual platforms making content accessible to a broader audience, she said.

OTC, which highly encourages attendees to wear masks regardless of vaccination status inside buildings, attracted more than 59,000 attendees from over 100 countries in 2019.

This year’s lineup will include some additions. OTC has introduced its Emerging Leaders program, which Yeilding said is “designed to celebrate key contributors to the offshore sector and our founding technical societies.”

Other new offerings include the Executive Dialogue series featuring executives within and outside the industry. The initiative aims to engage executives in “discussions about the innovations, corporate shifts and policies needed to drive the future of offshore energy and the energy transition forward,” OTC said. The program also includes a fireside chat that will bring together OTC and the NAPE Summit attendees, in a first between the two conferences, to discuss the energy transition and future of the industry.

RELATED: OTC, NAPE to Combine Houston Events with ‘Synergy in Energy’ Partnership

“I expect to see some hard-probing questions, not only from our moderators but from the audience as well,” said Paul Jones, vice chairman of the OTC board, representing the Society of Petroleum Engineers. “I expect based on the lineup of folks we’ve got that we’re going to be seeing some really insightful and impactful answers, thoughts and opinions from these executive panels. … These conversations are going to give us an intimate preview of what is to come for our industry.”

Energy transition

Offshore oil and gas players have been tapping technology and standardization to help lower costs and improve efficiency. Many are lowering their carbon footprints and aiming to produce some of the world’s lowest carbon-intense barrels.

Offshore wind production is picking up across the world, and subsea providers are also moving deeper into the renewables space.

“With renewable energy transitioning offshore, there are many opportunities brewing, including new jobs for young professionals, cross-sector collaboration and development of innovative technologies, and the expansion of a diverse energy mix to support our world’s increasing demand for energy,” said Yeilding, who is also senior vice president for BP America. “Offshore energy is at the forefront of international strategies to mitigate climate change.”

The energy transition will be a recurring topic at this year’s OTC, added Jones, principal at the Lockbridge Energy consulting firm. It surfaced at 9 a.m. Monday, Aug. 16, during the opening general session, moderated by the National Ocean Industries Association and featured speakers from ADNOC Drilling, Wood Mackenzie, TechnipFMC and Shell.

Conference attendees also will be able to hear bp's perspective at 8 a.m. Tuesday, Aug. 17, when Rob Kelly, vice president of digital production and products, speaks on the role of technology in the energy transition.

Yeilding and Jones see opportunities ahead for offshore energy.

“Several countries around the world are opening new frontiers in offshore wind, embracing technologies like floating solar and racing to produce hydrogen offshore,” Yeilding said. “In the United States alone, offshore wind is expected to grow significantly over the next decade, with 13 offshore wind projects expected to bring 9,100 MW of offshore wind online by 2026.

Jones added there are opportunities everywhere, not only in renewables but also in the traditional oil and gas space where there is increasing focus on lowering emissions, improving recoveries from existing producing fields and reducing capital and operating costs.

“For years, OTC has served as a forum for companies to collaborate and share the technologies and best practices that have made today’s offshore sector viable,” Jones said. “I believe it will remain the place to provide new ideas and innovations going forward.”

An evolution of ideas and technology 

This year marks the last year as OTC board chair for Yeilding, who said she will treasure her years with OTC as a board member and contributor to the technical program. She recalled how OTC has embraced the energy transition, helped its founding technical societies, added new programs focused on women in energy and introduced students to OTC, encouraging them to help solve the world’s energy challenges.

“Whether it’s oil and gas, solar, wind, hydrogen and other marine resources, the focus on technologies—the cleanest, the safest, the coolest technology—is always part of the buzz,” Yeilding said. “I love that we’ve embraced the energy transition and look forward to seeing future technology advances and collaboration brewing at OTC."