PRESS RELEASE

Offshore Technology Conference Attendance Reaches 72,900
HOUSTON, Texas, USA (May 6, 2010) – Attendance at the 2010 Offshore Technology Conference (OTC) reached 72,900 as offshore energy industry experts from around the world came together to share technological advances and innovative approaches at the world’s largest event for offshore resources development. OTC was held May 3-6 at Reliant Park in Houston.

Attendance surpassed the 2009 total of 67,700, and the sold-out exhibition was the largest in 28 years, totaling more than 568,000 square feet, up from 557,000 square feet in 2009. OTC’s expanded exhibition in Reliant Arena in addition to Reliant Center enabled the exhibition growth. Although this was a record year for OTC, the drilling accident in the Gulf of Mexico affected the mood and the tone of the event.

“We are coming together at a very sobering time for the offshore energy industry. Although we don’t yet know what caused the accident, we know that this industry takes safety and environmental stewardship very seriously. That is why when we do learn how this occurred, I know that all of us in the offshore industry will work together to prevent this from happening again anywhere in the world,” said Susan Cunningham, 2010 OTC chairman.

The keynote speaker for the OTC Awards Luncheon, Noble Energy’s Chairman and Chief Executive Officer Charles Davidson opened his remarks with reference to the tragic fire and sinking of the Deepwater Horizon rig by saying “We’ve got to clean it up….find out what happened, and fix it so that it never happens again.”

“I certainly had second thoughts,” Davidson said, about giving his keynote address – Today’s reality is yesterday’s impossibility. But he concluded that the industry must also celebrate its successes. “Our willingness to take on the ‘impossible’ has led to immense change and success. Believing that anything is possible is critical to that success.” He cited US gas shale plays, Chevron’s Jack field in the lower tertiary Gulf of Mexico, and Israel’s gas-field discoveries of the past 18 months as examples of achievements that once seemed impossible.

Covering four full days, this year’s technical program offered sessions on renewable energy sources including offshore wind and wave energy. OTC’s Spotlight on New Technology program highlighted 13 innovative technologies that are already making the industry more effective.

OTC continues to grow with two new conferences. The OTC Brasil conference is scheduled for 4-6 October 2011 in Rio de Janeiro. OTC’s first Arctic Technology Conference will occur 7-9 February 2011 in Houston, as a separate new conference focusing on both offshore and onshore technology for Arctic exploration and development.

The 2011 OTC takes place 2-5 May 2011 at Reliant Park.

About OTC
The Offshore Technology Conference is the world’s foremost event for the development of offshore resources in the fields of drilling, exploration, production and environmental protection. OTC is held annually at Reliant Park in Houston. For more information, visit www.otcnet.org.

Source: Rigzone

The number of rigs drilling for oil and gas in the U.S. climbed this week, bringing more gas supply to market despite low prices for the fuel.

The number of oil and gas rigs climbed to 1,465, up 21 rigs from the previous week, according to data from oil-field services company Baker Hughes Inc. The number of gas rigs was 949, an increase of eight rigs from last week, while the oil rig count was 502, an increase of 13 rigs. The number of miscellaneous rigs was unchanged at 14 rigs.

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Source: NOLA.com

Discovery should mean big boost for south Louisiana economy Discovery should pump La. economy

September 3, 2009

By Jen DeGregorio and Chris Kahn

BP said Wednesday that it has drilled the world ’s deepest oil well in the Gulf of Mexico and found a giant pool of crude, a discovery that promises to make an indelible mark on the south Louisiana economy.   The Tiber Prospect is expected to rank among the largest petroleum discoveries in the United States, potentially producing half as much crude in a day as Alaska’s famous North Slope oil field.  Louisiana energy circles were abuzz with news of the discovery Wednesday.   “Any incremental business in the Gulf of Mexico is going to be a net positive for us one way or the other,” said Todd Hornbeck, chief executive of Hornbeck Offshore Services of Covington, which is the nation’s second-largest provider of deepwater offshore supply vessels.  Hornbeck said the company received a big boost after BP made another major discovery in the late 1990s in the Thunder Horse oilfield. Located about 150 miles southeast of New Orleans, the Thunder Horse platform is the biggest producer in the Gulf, pumping 250,000 barrels of oil and 200 million cubic feet of natural gas per day.

— A big job producer —   Developing Thunder Horse required billions of dollars and countless workers, many of them flown in or carried by boat from Louisiana to install equipment or provide other services, Hornbeck said.   Shipyards, refiners and manufacturers and retailers of an array of industrial equipment also saw an uptick in business because of Thunder Horse, said Don Briggs, president of the Louisiana Oil and Gas Association.   “The support industry for a project as big as this is huge,” Briggs said of Tiber, which could be even bigger than Thunder Horse.

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