A robust exhibition for the oil and gas industry in Houston saw firms from across the world actively seeking solutions that will cut costs in the face of the oil price crash.
The Offshore Technology Conference (OTC) – the world’s biggest oil and gas show – drew to a close yesterday, with several north-east firms having attended and a number coming away with promising business leads.
With nervousness about the effect of oil prices remaining low pervading proceedings, most firms pitched up to NRG Park to show off technologies and services that would make subsea oil exploration cheaper.
Derek Smith, chief executive of Maritime Developments, came out a few days before the show started on Monday.
He said: “OTC is a great networking opportunity both at the show itself and out with the exhibition. Having everyone in one city allowed us to talk business with current as well as prospective clients.
“There has been a lot of appetite here to speak to us about our technology and how our solutions can help cut costs, especially by significantly reducing mobilisation time and vessel days.
“We are cautious, as there is no doubt these are difficult times for all; but also return to the UK optimistic about our short and long-term prospects overseas.”
Although firms are facing difficulties, with a number of OTC’s famed hospitality and networking events having been pared down slightly, there was still a feeling of optimism.
Bob Haley, vice-president of sales for Gulf of Mexico at Balmoral Group, said: “We were pleasantly surprised by the positivity at the show.
“We’ve received a number of inquiries for projects in the Gulf of Mexico, particularly those that are at the pre-and FEED (front end engineering and design) stages.
“An exciting opportunity has opened up for us to develop existing technology into a potentially exciting new product line.’
The show attracted new faces this year as firms decided now was the time to invest in marketing and selling.
Mark Preece, vice-president of Ceona, said its first time at the show proved beneficial. He added: “As our first ever OTC, we have been pleasantly surprised by how productive it has been.
“Exhibiting at the show represents a major investment, but we have already seen a return on that in terms of the conversations with and
interest from decision-makers in the industry.
“OTC is a truly global show which has enabled us to raise awareness of our brand and particularly our game-changing subsea construction vessel, the Ceona Amazon.”
Colin Black, chief commercial officer at Ace Winches, said that despite the challenging low oil price environment there was still significant interest in the company’s innovative project solutions.
He added that this year was different, as operators who were too busy to consider innovative new technology when the oil price was over $100 are now changing tack.
“Last year was too busy,” he said, adding: “Now they have a chance to have a look at what is available.”
Douglas Craig, chairman and managing director of Craig Group, and a regular attendee of OTC, said what stood out for him most this year’s show was “the adaptability, tenacity and optimism of many of the supply chain companies regarding their market share and the oil price improving going ahead”.
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