In 1969, the Offshore Technology Conference had 4,200 attendees and 200 exhibitors.Î¾ It's grown to more than 70,000 attendees and 2,500 exhibitors over the last four decades, now set up at Reliant Center.Î¾ OTC spotlights the latest and newest technologies for the offshore oil and natural gas industry, ranging from software to massive drilling equipment.Î¾ 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.Î¾ This is always very important for the industry.Î¾ We have to look long-term.Î¾ We have to then be very efficient with what we are doing, so the large capital projects tend to draw a lot of attention."Î¾Î¾
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.Î¾ 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.Î¾ 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.Î¾
Ed Mayberry, KUHF Houston Public Radio News.