The World Comes to OTC as Conference Attendance Reaches 24-year High

Attendance at the 2006 Offshore Technology Conference (OTC) reached a 24-year high, as 59,236 exploration and production professionals met to learn about the latest technology to find the oil and gas that the world needs. The world's largest offshore event was held 1-4 May at Reliant Center at Reliant Park in Houston.

OTC's exhibit was bigger and better than ever, with 2,214 companies from 33 countries, including 246 additional exhibitors in 2006. Exhibit space was expanded with two new climate-controlled Pavilions that were constructed adjacent to the main exhibit area. Total exhibit space was 475,000 square feet, the equivalent of nearly 12 football fields.

"The increased attendance underscores the significance of OTC for the industry, because companies use the exhibit to introduce new technology offerings. Many of our special sessions on topical issues facing the industry were standing room only, as offshore professionals got the opportunity to learn from the best minds in the world at the technical conference," said Arnis Judzis, Chairman of OTC.

Keynote speaker Guilherme Estrella, managing director of E&P for Petrobras, said that the oil and gas industry is in a "golden, unprecedented cycle of our industry" that also imposes great responsibilities, including the development of solutions that provide complementary alternatives, such as biodiesel and ethanol to extend oil and gas reserves. He said that the industry has invested more than $150 trillion since the first oil was drilled 150 years ago to provide the energy that provides a decent modern life, while making tremendous advancements in reducing polluting gases and improving energy efficiency.

OTC offered special sessions on significant industry topics, such as lessons learned in recovering from hurricanes in the Gulf of Mexico, alternate energy sources and emerging areas for offshore development in addition to more than 300 technical presentations. OTC's Spotlight on New Technology program highlighted 13 innovative technologies that are already making the industry more effective and allowing more reserves to be recovered from existing wells.

The 2007 OTC, "Transforming the Industry," takes place April 30 – May 3 at Reliant Center at Reliant Park. For more information, visit OTC.07