OTC

The Offshore Technology Conference has announced the winners of the 2018 Spotlight on New Technology Award, recognizing excellence in offshore E&P.

As the industry moves toward recovery and stability, OTC will attract global industry professionals, government officials, academic experts, and many other organizational representatives to discuss technology and broader industry issues and assess the future.

Shell and SBM Offshore won recognition for their Gulf of Mexico Stones field development. The OTC Distinguished Achievement Award will be presented during a luncheon on 1 May at the Offshore Technology Conference in Houston.

This year’s OTC awards will go to individuals and companies that have made significant contributions to the offshore section.

The top US wind power official told the offshore upstream sector that it can help build “smaller, leaner, and cheaper" wind turbine farms.

Operators are increasingly using existing offshore infrastructure for asset life extension, and developing new marginal stranded fields rather than develop new large greenfields. Subsea processing is an enabling technology in this goal.

OTC panelists were excited at the potential of deepwater exploration offshore Mexico and believe that opportunities there could eventually drive a big new wave of activity.

One of the oldest deepwater platforms in the Gulf of Mexico has become a profit-leader for the oil major during this downturn and is now a model for the company’s other floating assets.

Panelists at the Offshore Technology Conference largely doubted that the oil and gas industry is making full use of digital technology for fundamental transformation.

The new economic environment known as “lower for longer” has had no small effect on offshore safety, said a panel of experts at the 2017 Offshore Technology Conference.