By Ariana Hurtado, Editor and Director of Special Reports
HOUSTON — This year more than 30,000 participants from 107 countries attended the Offshore Technology Conference (OTC). The agenda included 51 sessions—featuring 30 executive dialogues and keynote presentations, 13 panels, seven networking events and nine countries highlighted in the Around the World Series.
Attendees, presenters and exhibitors shared their insights about the future of the offshore sector, the energy transition, technology and more at OTC this week.
Wave energy revolution in the US
“As a witness of significant technological advancements at the OTC conference, I believe that there should be a spotlight on the transformative role that wave energy can undertake in adding a significant clean energy source to the renewable energy mix of the United States. According to the United States Energy Information Administration, wave energy can supply up to 66% of all the United States energy needs. This is a game-changer! Eco Wave Power is leading this revolution with its grid-connected wave energy array in Israel, and its soon-to-be-operational wave energy project in the Port of Los Angeles—a first of its kind in the United States.”
—Inna Braverman, Founder and CEO, Eco Wave Power
Braverman spoke at two OTC technical panels, “Marine Energy: Making this Renewable a Large-scale Reality” and “Wave Energy Generation Potential in California and on the US Coastline,” on May 6.
Next step of data-driven decisions
“For operators to make confident and assured decisions during offshore activities, accurate and timely sea state data is key. In an environment that is constantly evolving, real-time insights can make all the difference, providing up-to-the-minute information to many different stakeholders, particularly vessel operators supporting the traditional energy and emerging renewables sectors. We’re now looking toward the next step of data-driven decisions for the market with wave prediction systems, which remove uncertainty when working in challenging environments. Breakthrough technologies like these enable vessel operators to assess risks before they materialize, enabling wider efficiencies and improved safety across the industry.”
—Marius Five Aarset, CEO, Miros (OTC attendee)
Energy transition a hot topic
"Unsurprisingly, the energy transition is dominating conversation on the floor at OTC this year. Whether it’s discussing the role hydrogen and carbon capture will play in moving away from fossil fuels, or a focus on compliance and increasing scrutiny on businesses to reduce fugitive emissions, there is a real buzz. These are themes that are rooted in the very fabric of our business, so it’s incredibly positive to hear the sector taking the energy transition seriously. There is so much that can be learned from oil and gas heritage that will be vital to move us forward as an industry."
—Chris Kennell, VP Sales Americas, Oxford Flow
Oxford Flow is exhibiting at booth 1401.
Digitalization leads to optimized production
"With growing demands to meet energy needs globally, digitalization should not just be a trend—it's a strategic imperative. Today, industry leaders are already harnessing the power of digital twins, AI and real-time data analytics to not only enhance asset management but also to revolutionize safety protocols and streamline maintenance operations. These technologies empower remote operations and reduce the need for physical inspections and in turn increase efficiencies by minimizing operational disruptions. As we move forward, integrating the very latest innovations will be key to optimized production and enhanced reliability, fostering a more robust and agile offshore energy sector for years to come.”
—Martín Luna Rivera, Americas Channel Partner Manager, James Fisher Asset Information Services (OTC attendee)
Leveraging a disruptive mindset with R&D
“The offshore industry today faces the critical imperative of balancing energy security with reliability and sustainability for the future. This creates an urgency for organizations to tackle challenges by leveraging a disruptive mindset, capable of solving problems that may not yet be fully defined. Success relies on the ability to merge conventional engineering with an innovative approach that meets market demands for energy transition and decarbonization. We are confident that the energy industry has trusted partners with the research and technology capabilities necessary to enhance performance—while navigating a net-zero journey in oil and gas industry.”
—Natalia Klafke, Global Head of Energy and Sustainability, Radix
Radix Engineering & Software is exhibiting in the Brazilian Pavilion 723, booth 19.
ROV supporting US wind farms
“With the White House aiming for 80% clean energy generation by 2030, the growth of America’s offshore renewable industry is more essential than ever. Having successfully completed the full-power testing of our work-class ROV, the Quantum EV, we look forward to supporting US wind farms' fast and efficient scale-up. Using less energy and reducing contamination risk, the Quantum EV will facilitate the growth of America’s $45 billion renewable energy market.”
—Mark Collins, Innovation Director, SMD (OTC attendee)
Meeting safety needs for offshore structures
“Safety is paramount for the offshore industry. Constant exposure to seawater and corrosive chemical additives used in mixing drilling mud can take a toll on offshore platforms. Walkways, stairs and other high-traffic areas made of aluminum, steel and wood can’t stand up to these corrosive elements, creating safety hazards. Fiberglass-reinforced polymer (FRP) structures are corrosion-resistant, and won’t shrink, swell, dent or conduct electricity. Their limitless configurations of catwalks, stairs, railings and more paired with anti-slip surfaces make FRP the perfect fit for access and safety needs for offshore operations.”
—Thomas Wright, Business Development Director, Bedford Reinforced Plastics
Bedford is exhibiting at booth 2941.
Supporting deepwater exploration in the Caribbean
“With the robust burst of energy operations within the Caribbean, Trinidad and Tobago remains poised in a strategic position of geographic location and expertise to support our neighboring countries. At the Offshore Technology Conference this year, we are emphasizing our capability to enhance efficiency and safety in offshore operations. Our discussions at booth 4747 revolve around supporting deepwater exploration and optimizing supply chain logistics in challenging environments. These conversations reflect the resilience and adaptability of our sector, even as we confront the pressing challenges of energy transition and environmental sustainability.”
—Dale Lutchman, Vice President of Customer Service, Ramps Logistics
Ramps Logistics is exhibiting in the Trinidad & Tobago Pavilion at booth 4747.
Trinidad and Tobago offers specialized workforce
“From the heart of the Caribbean’s energy sector, I am proud to spotlight Trinidad and Tobago’s dynamic capabilities at the Offshore Technology Conference. Our region offers a unique proposition: the globalization of a highly specialized workforce. Since 2023, EDO North America LLC has established a strong presence, securing a global contract with a leading oil and gas company to provide specialized and technical offshore labor in Alaska, Houston and Louisiana. Positioned strategically, we excel in filling critical offshore roles globally. At our booth, the focus is on overcoming challenges like talent mobility and optimizing logistical operations, while pioneering sustainable solutions that drive operational excellence in offshore projects.”
—Sarona Samaroo, Vice President, El Dorado Offshore
El Dorado Offshore Trinidad Ltd. is exhibiting in the Trinidad & Tobago Pavilion at booth 4747.
Brazil already in the middle of transition
"[Brazil] is a country that is in the middle of the transition. It's not that we are going to aim at exporting 1.5 million barrels a day in the next 10 years every year. No, it's the middle of the jump; we are in the middle of it. It makes sense that we are at the peak of both things. ...Now we want to phase in [and] phase out one thing ...but we are in the middle of the cycle."
—Jean Paul Terra Prates, President and CEO, Petrobras
Read the full story covering Terra Prates' May 6 executive dialogue session: OTC 2024: Petrobras CEO stresses importance of partnerships during energy transition.
GoM will remain key E&P region
“We’re going to invest in today’s oil and gas systems, and we will pragmatically invest in the energy transition. But we’re going to do so as a simpler, more focused, and a higher value company...and the Gulf of Mexico will be at the front and center. ...We are one of the region’s largest oil producers, and we will continue investment and exploration around five operated hubs: Atlantis, Mad Dog, Na Kika, Thunder Horse and Argos. ...The Paleogene will drive the growth agenda in the Gulf of Mexico with new hub developments” and he noted that bp has significant discovered reserves in this play with its Kaskida, Tiber, and Guadalupe discoveries."
—Andy Krieger, Senior Vice President—Gulf of Mexico and Canada, bp
Read the full story covering Krieger's May 7 keynote presentation: OTC 2024: BP executive says Gulf of Mexico will remain key E&P region.
US faces learning curve with offshore wind
"There's so many avenues and so many technologies that that will come together to make this energy transition, and we need them all. I see offshore wind as a really critical part. It's not 100% of the solution, but I do think it has an important role to play, especially in places like the Northeast [US] where our projects are, where some of the other technologies won't work as well."
—Rain Byars, technical and delivery director, Atlantic Shores Offshore Wind
Read the full story covering Byars' May 7 keynote presentation: OTC 2024: US faces 'learning curve' with offshore wind, says Atlantic Shores exec.
Clear shift toward sustainable energy
"There’s a feeling that the oil and gas sector is improving, particularly across the Americas. This positive momentum is tempered by challenges in the supply chain, where increasing demand has led to stretched lead times, which highlights the need for collaboration in navigating these complexities and ensuring the success of essential projects. Meanwhile, the shift towards sustainable energy is clear, with significant discussions around the global energy transition. Most notably, there’s a lot of interest in learning more about energy transition technology that does not necessarily have an application in oil and gas, like our HexDefence system for fixed offshore wind, which is exciting."
—Bill Main, Managing Director, Balmoral Comtec
Balmoral Comtec, part of Balmoral Group, is exhibiting at booth 1739.
Requests from the offshore workforce
"Like most industries, the energy sector is struggling with employee recruitment and retention, especially offshore. Employees working offshore expect a 'home away from home' experience that ensures safety, health and wellness while onboard. Understanding the evolving needs of two of the most underserved groups—women and GenZ—is vital. The key talent from these groups, told us in a recent consumer survey, high-quality on-trend sustainable and healthier food options, spotless, energy-efficient accommodations, and activities that promote community and wellness are essential to their experience while onboard. Continuing to innovate and respond to the changing workforce will ensure future growth."
—Ed Morrow, Global Energy Account VP Offshore & Drillers, Sodexo Energy & Resources
Sodexo is exhibiting at booth 3405.
A push toward automation & electrification
“The mood is generally upbeat. There’s a lot of activity around offshore including exploration in Africa, Brazil and the Caribbean. The upcoming US election has people uncertain of how the outcome will affect the industry. But underlying everything is a genuine push toward automation and electrification technology to aid net-zero goals. At our booth, people are asking about high-voltage swivels to power offshore platforms from shore and turn off diesel engines to run clean power; that’s a big enabler. An uptick in exploration also causes people to look for downhole products, but they want reliability.”
—Deepak Jagannathan, Manager of Strategic Growth and Innovation, Moog Inc.
Moog is exhibiting at booth 1567.
Shifting market demands and other challenges
“Identifying efficient solutions that not only address constantly shifting market demands but embrace emerging technology are among the biggest challenges facing the offshore industry. Renewable energy and sustainable practices are playing an increasingly larger role within that development, and it will remain critical to strike a harmonious balance between their incorporation and established processes that represent the foundation of marine operations.”
—Collins Bioseh, Marine Market Segment Manager, Bosch Rexroth/Hägglunds
Bosch Rexroth/Hägglunds is exhibiting at booth 739.
Sustainability through optimized efficiencies
"With the oil and gas industry taking steps to improve efficiencies to support sustainability goals, we are committed to improving drilling and well construction activities by optimizing casing architecture and reducing rig time. In addition, Coretrax has a strong track record solving integrity issues during fracing activities as well as production enhancement of older wells in the areas of water shut off and re-fracing, which helps to avoid the need to rebuild infrastructure. These activities deliver significant efficiencies and support the oil and gas sector to achieve cleaner and more productive operations."
—Scott Benzie, CTO, Coretrax (OTC attendee)
05.07.2024
