OTC

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.

Companies are rethinking offshore developments and in a very tough market are finding innovative ways of bringing some projects forward.

The new CEO of Pemex outlined his plan to reverse the state-owned company’s struggling financial and production situation.

While the current oil prices may not generate the cash flow needed to pay for offshore projects using traditional financial options, private equity may be the best alternative for operators.

Secretary of the Interior Ryan Zinke praised America’s resource potential and regulatory framework at OTC. He also laid out his plan to review the department and signed two secretarial orders.